2017 Senate Bill 307

Clarify libraries’ exemption from tax "captures"

Introduced in the Senate

April 20, 2017

Introduced by Sen. Peter MacGregor (R-28)

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 “Corridor Improvement” authorities, which have been granted the power to “capture” incremental increases in local government tax collections.

Referred to the Committee on Finance