An act to amend 1996 PA 376, entitled “An act to create and expand certain renaissance zones; to foster economic opportunities in this state; to facilitate economic development; to stimulate industrial, commercial, and residential improvements; to prevent physical and infrastructure deterioration of geographic areas in this state; to authorize expenditures; to provide exemptions and credits from certain taxes; to create certain obligations of this state and local governmental units; to require disclosure of certain transactions and gifts; to provide for appropriations; and to prescribe the powers and duties of certain state and local departments, agencies, and officials,” by amending sections 3, 4, 6, 8a, and 12 (MCL 125.2683, 125.2684, 125.2686, 125.2688a, and 125.2692), sections 3 and 8a as amended by 2010 PA 277, section 4 as amended by 2014 PA 27, section 6 as amended by 2016 PA 118, and section 12 as amended by 2010 PA 83.
House Bill 5096 would amend the Michigan Renaissance Zone Act to allow the board of directors of the Michigan Strategic Fund (MSF) to designate all remaining Renewable Energy, Forest Product Processing, and Border Crossing Facility renaissance zones and to approve extensions for other MSF-designated zones. It would also modify the process for reimbursing lost property tax revenue to school districts, community colleges, and public libraries.
Co-sponsored by Reps.
Referred to the Committee on Economic Development and Small Business
Reported with substitute H-1
Substitute H-1 concurred in by voice vote
Passed in the House 72 to 38 (details)
Motion to give immediate effect
by
The motion prevailed by voice vote
Referred to the Committee of the Whole
Reported with substitute S-4
Substitute S-4 concurred in by voice vote
Passed in the Senate 24 to 14 (details)
Motion to give immediate effect
by
The motion prevailed by voice vote
Substitute S-4 concurred in 69 to 38 (details)
