SB 0676
Economic development: other; recodified tax increment financing act; amend to reflect elimination of the Michigan strategic fund. Amends secs. 219, 402, 403, 404, 410, 412, 412a, 412b, 412c & 412e of 2018 PA 57 (MCL 125.4219 et seq.). TIE BAR WITH: SB 0631'25
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill modifies the Recodified Tax Increment Financing Act to reflect the elimination of the Michigan Strategic Fund. It amends several sections of the act to adjust procedures for approving development plans and tax increment financing plans, particularly regarding catalyst development projects. The bill also clarifies definitions related to key terms such as ‘authority,’ ‘eligible property,’ and ‘captured assessed value,’ ensuring the act remains relevant in light of the fund’s removal.
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Primary sponsor
Thomas A. Albert
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