Introduced
by
To revise a <A href="http://www.michiganvotes.org/2007-SB-861">2008 law</A> authorizing local “promise zone” tax increment financing authorities (TIFA) to subsidize college tuition for students in low educational attainment areas, by also allowing these subsidies for vocational education or training, and for books and school supplies. The bill also gives the authorities more latitude in setting academic performance standards, including excluding students who score below a certain grade point average. Finally, it lets these entities reset the formula for their future tax increment "capture" amounts, since declining property tax assessments have reduced the amount of revenue they expected to collect.
Referred to the Committee on Economic Development
Reported without amendment
With the recommendation that the substitute (S-3) be adopted and that the bill then pass.
Substitute offered
The substitute passed by voice vote
Passed in the Senate 38 to 0 (details)
Referred to the Committee on Education
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 96 to 13 (details)
To revise a <A href="http://www.michiganvotes.org/2007-SB-861">2008 law</A> authorizing local “promise zone” tax increment financing authorities (TIFA) to subsidize college tuition for students in low educational attainment areas, by also allowing these subsidies for vocational education or training, and for books and school supplies. The bill also gives the authorities more latitude in setting academic performance standards, including excluding students who score below a certain grade point average. Finally, it lets these entities reset the formula for their future tax increment "capture" amounts, since declining property tax assessments have reduced the amount of revenue they expected to collect.
