SB 0668
Economic development: other; brownfield redevelopment financing act; amend to reflect elimination of the Michigan strategic fund. Amends secs. 2, 8a, 14a & 15b of 1996 PA 381 (MCL 125.2652 et seq.). TIE BAR WITH: SB 0631'25
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- Passed Senate
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Bill overview
This bill modifies the Brownfield Redevelopment Financing Act to eliminate the Michigan Strategic Fund’s involvement. It amends several sections of Public Act 381 of 1996 to reflect this change, primarily by removing references to the fund. The bill also clarifies definitions related to blighted properties, corrective action, and income tax capture revenues, and introduces a new provision for calculating construction period tax capture revenues specifically for transformational brownfield plans.
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Primary sponsor
Thomas A. Albert
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