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Michigan Legislature
Michigan Compiled Laws Complete Through PA 336 of 2018
House: Adjourned until Tuesday, September 25, 2018 1:30:00 PM
Senate: Adjourned until Tuesday, September 25, 2018 10:00:00 AM

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NOTE: Dates reflect any modification to item, not necessarily a change in law.

Act 450 of 1980 - THE TAX INCREMENT FINANCE AUTHORITY ACT (125.1801 - 125.1830)
***** Act 450 of 1980 THIS ACT IS REPEALED BY ACT 57 OF 2018 EFFECTIVE JANUARY 1, 2019 *****

Section 125.1801 ‑ Definitions.
Section 125.1801a ‑ Short title.
Section 125.1802 ‑ Authority; establishment; public body corporate; powers generally.
Section 125.1803 ‑ Resolution of intent to create and provide operation of authority; determinations; notice of public hearing; adoption, filing, and publication of resolution establishing authority and designating boundaries of authority district; alteration or amendment of boundaries; validity of proceedings establishing authority; action by library board or commission.
Section 125.1804 ‑ Board; composition; chairperson; oath of member; rules governing procedure and meetings; meetings open to public; removal of member; publicizing expense items; financial records open to public.
Section 125.1805 ‑ Board; employment, compensation, term, oath, and bond of director; chief executive office; duties of director; absence or disability of director; reports; employment, compensation, and duties of treasurer and secretary; retention and duties of legal counsel; employment of other personnel; participation in municipal retirement and insurance programs.
Section 125.1807 ‑ Board; powers generally.
Section 125.1808 ‑ Board serving as planning commission; agenda.
Section 125.1809 ‑ Authority as instrumentality of political subdivision.
Section 125.1810 ‑ Taking, transfer, and use of private property by municipality.
Section 125.1811 ‑ Financing activities of authority; sources.
Section 125.1812 ‑ Borrowing money; issuing negotiable revenue bonds; full faith and credit.
Section 125.1812a ‑ Insufficient tax increment revenues for repayment of advance or payment of obligation; appropriation and distribution to authority; filing, time, and contents of claim; distribution of amounts in 2 equal payments; appropriation and distribution of aggregate amount; limitations; distribution subject to lien; obligation as debt or liability; certification of distribution amount; basis for calculations of distributions and claims reports; debt payment period.
Section 125.1812b ‑ Retention and payment of taxes levied under state education tax act; conditions; application by authority for approval; information to be included; approval, modification, or denial of application by department of treasury; appropriation and distribution of amount; calculation of aggregate amount; lien; reimbursement calculations; legislative intent.
Section 125.1813 ‑ Preparation and submission of tax increment financing plan; contents and approval of plan; public hearing; taxing jurisdictions.
Section 125.1814 ‑ Transmitting and expending tax increment revenues; disposition of surplus funds; abolition of tax increment financing plan; financial report.
Section 125.1815 ‑ Tax increment bonds; qualified refunding obligation.
Section 125.1816 ‑ Development plan; preparation; contents.
Section 125.1817 ‑ Public hearing on development plan; publication, mailing, and contents of notice; presentation of data; record.
Section 125.1818 ‑ Development plan or tax increment plan as public purpose; determination; approval or rejection of plan; notice and public hearing; conclusiveness of procedure, adequacy of notice, and certain findings; validation and conclusiveness of plan; contesting plan.
Section 125.1819 ‑ Notice to vacate.
Section 125.1820 ‑ Development area citizens council; establishment; advisory body; appointment and qualifications of members.
Section 125.1821 ‑ Consultation representative of authority and council.
Section 125.1822 ‑ Meetings of council; open to public; notice; hearing persons present at meeting; record; information and technical assistance; failures not precluding adoption of development plan.
Section 125.1823 ‑ Development plan; notice of findings and recommendations.
Section 125.1824 ‑ Development area citizens council; dissolution.
Section 125.1825 ‑ Budget; cost of handling and auditing funds.
Section 125.1826 ‑ Preservation of public facility, building, or structure having significant historical interest; review of proposed changes to exterior of historic site.
Section 125.1827 ‑ Dissolution of authority; resolution; disposition of property and assets.
Section 125.1828 ‑ Authority district part of area annexed to or consolidated with another municipality; authority of annexing or consolidated municipality; status of obligations, agreements, and bonds.
Section 125.1829 ‑ New authority or authority district and boundaries of authority district; prohibitions; validity of tax increment finance authority, authority district, development area, development plan, or tax increment financing plan established before December 30, 1986; development area created or expanded after December 29, 1986.
Section 125.1830 ‑ Proceedings to compel enforcement of act; rules.

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