A bill to amend 1996 PA 381, entitled “Brownfield redevelopment financing act,” by amending sections 2 and 4 (MCL 125.2652 and 125.2654), section 2 as amended by 2023 PA 90 and section 4 as amended by 2016 PA 471.
The legislation refines the Brownfield Redevelopment Financing Act by expanding eligibility for redevelopment, introducing transformational plans with investment requirements, and detailing tax capture revenue calculations, while allowing pre-existing authorities to capture certain taxes if levied before the amendment and if obligations remain unpaid.
Introduced
by
Referred to the Committee on Economic Development and Small Business
