2024 Senate Bill 1043

Economic development: tax increment financing; definition of other protected obligation; modify and expand.

A bill to amend 2018 PA 57, entitled “Recodified tax increment financing act,” by amending section 301 (MCL 125.4301).

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The bill amends the Recodified Tax Increment Financing Act to refine definitions, introduce new provisions for financing public projects in specific municipalities, and adjust funding allocations and timelines for tax increment revenues and obligations.

Introduced in the Senate

Oct. 16, 2024

Introduced by Sen. Sam Singh (D-28)

Referred to the Committee on Appropriations