Introduced
by
To revise the population threshold needed to qualify as an "urban township" in the Local Development Financing Act. The Act authorizes local governments to create local development authorities to undertake public facility projects funded by tax increment financing. Tax increment financing allows an authority to capture the increment of increased local property tax revenue that results from the economic growth which is supposed to result because of the new public facilities. These projects are intended to provide incentives for particular businesses to locate in an area. Under current law, an urban township must have population of 20,000 or more, or 13,000 or more if located in a county with at least 150,000. The bill would allow a township of any size to qualify if it is in a county with at least 450,000 people (Kent, Macomb, Oakland, and Wayne Counties).
Referred to the Committee on Economic Development, Small Business, and Regulatory Reform
Referred to the Committee on Natural Resources and Environmental Affairs
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one which establishes adds to the current definition of urban township a township which has a written agreement with an adjoining township to develop one or more public facilities on contiguous property located in both townships, located in a county with a population of one-million or more (Oakland and Wayne Counties).
The substitute passed by voice vote
Passed in the Senate 38 to 0 (details)
To include in the definition of "urban township" for purposes of establishing a local development finance authority, a township which has a written agreement with an adjoining township to develop one or more public facilities on contiguous property located in both townships, located in a county with a population of one-million or more (Oakland and Wayne Counties). A local development finance authority may use revenue "captured" from the increment of increased local property taxes that result from economic growth which is supposed to occur due to the new public facilities funded by the authority.
Referred to the Committee on Commerce
Referred to the Committee on Local Government and Urban Policy
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 58 to 42 (details)
To include in the definition of "urban township" for purposes of establishing a local development finance authority, a township which has a written agreement with an adjoining township to develop one or more public facilities on contiguous property located in both townships, located in a county with a population of one-million or more (Oakland and Wayne Counties). A local development finance authority may use revenue "captured" from the increment of increased local property taxes that result from economic growth which is supposed to occur due to the new public facilities funded by the authority.
