Introduced
by
To expand the power of the the local “water improvement” authorities authorized by a <a href="http://www.michiganvotes.org/2007-SB-47">2008 law</a>, by letting them use “tax increment financing” to fund debt service paynments on money borrowed to pay for dredging a recreational boat harbor. These tax increment finance authorities (TIFAs) "capture" the increment of extra local property tax revenue that it is hoped will result from economic growth which might be generated by the "water resource" improvements 4640 to expand the power of the the local “water improvement” authorities authorized by a <a href="http://www.michiganvotes.org/2007-SB-47">2008 law</a>, by letting them use “tax increment financing” to make debt service paynments on money borrowed to pay for the dredging of recreational boat harbors. These tax increment finance authorities (TIFAs) "capture" the increment of extra local property tax revenue that it is hoped will result from economic growth which might be generated by the "water resource" improvements.
Referred to the Committee on Natural Resources, Tourism, and Outdoor Recreation
