Introduced
by
To clarify details of a <a href="http://www.michiganvotes.org/2015-SB-624">2016 law</a> that exempted libraries from having their tax revenue “captured” by a municipal tax increment finance scheme, so as to clarify the status of existing local authority debt that is serviced by these captures. See also Senate Bill 304; this bill amends the law authorizing Downtown Development Authorities, which have been granted the power to “capture” incremental increases in local government tax collections.
Referred to the Committee on Finance
