Introduced
by
To revise the formulas used to divert some school tax revenue to subsidies paid by Brownfield and Downtown Development Authorities to developers for certain projects primarily in Detroit, but also in Battle Creek. This relates to state reimbursements to local taxing authorities whose revenues are “captured” by the DDA through a tax increment financing scheme, and presumably refers mostly to the impact of the Detroit DDA’s huge subsidies to the Ilitch family’s Little Caesar’s Arena project.
Referred to the Committee on Tax Policy
Reported without amendment
Without amendment and with the recommendation that the bill pass.
