SB 0723
Economic development: brownfield redevelopment authority; transformational brownfield plan; modify. Amends secs. 2, 14a & 16 of 1996 PA 381 (MCL 125.2652 et seq.).
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill modifies the Brownfield Redevelopment Financing Act to streamline the process for transforming brownfield sites into economic development assets. It establishes a ‘Transformational Brownfield Plan’ that allows for broader categories of eligible activities and revenue capture, including construction period tax capture. The bill also clarifies definitions related to blighted properties, environmental assessments, and eligible activities, and introduces provisions for economic opportunity zones and former mills.
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