BROWNFIELD REDEVELOPMENT FINANCING ACT
Act 381 of 1996
AN ACT to authorize municipalities to create a brownfield redevelopment authority to facilitate the implementation of brownfield plans; to create brownfield redevelopment zones; to promote the revitalization, redevelopment, and reuse of certain property, including, but not limited to, previously developed, tax reverted, blighted, or functionally obsolete property; to promote the utilization of certain property for housing development; to prescribe the powers and duties of brownfield redevelopment authorities; to permit the issuance of bonds and other evidences of indebtedness by an authority; to authorize the acquisition and disposal of certain property; to authorize certain funds; to prescribe certain powers and duties of certain state officers and agencies; and to authorize and permit the use of certain tax increment financing.
History: 1996, Act 381, Eff. Sept. 16, 1996
;--
Am. 2003, Act 259, Imd. Eff. Jan. 5, 2004
;--
Am. 2023, Act 90, Imd. Eff. July 19, 2023
The People of the State of Michigan enact:
| Section 125.2651 | Section | Short title. |
| Section 125.2652 | Section | Definitions. |
| Section 125.2653 | Section | Brownfield redevelopment authority; establishment; exercise of powers; alteration or amendment of boundaries; authority as public body corporate; written agreement with county. |
| Section 125.2654 | Section | Resolution by governing body; adoption; notice; public hearing; proceedings establishing authority; presumption of validity; exercise of powers as essential governmental function. |
| Section 125.2655 | Section | Designation of board by governing body; membership; trustees; applicability of subsection (2); election of chairperson, vice-chairperson, and other officers; oath; procedural rules; meetings; special meetings; removal of member; records open to public; quorum. |
| Section 125.2656 | Section | Appointment or employment of director, treasurer, secretary, personnel, and consultants; assistance provided by municipality; retirement and insurance programs. |
| Section 125.2657 | Section | Powers of authority; determining captured taxable value; transfer of municipality funds to authority. |
| Section 125.2658 | Section | Local brownfield revolving fund. |
| Section 125.2658a | Section | State brownfield redevelopment fund. |
| Section 125.2659 | Section | Authority as instrumentality of political subdivision. |
| Section 125.2660 | Section | Taking, transfer, and use of private property. |
| Section 125.2661 | Section | Financing sources of authority activities. |
| Section 125.2662 | Section | Bonds and notes of authority. |
| Section 125.2663 | Section | Brownfield plan; provisions. |
| Section 125.2663a | Section | Cost recovery action. |
| Section 125.2663b | Section | Use of taxes captured from eligible property. |
| Section 125.2663c | Section | Transformational brownfield plan. |
| Section 125.2664 | Section | Brownfield plan; approval; public hearing; record; notice; public purpose; determination; amendments to plan; validity of procedure, notice, and findings; presumption; abolishment or termination of plan. |
| Section 125.2664a | Section | Transformational brownfield plan; approval and review by governing body and Michigan strategic fund; use of funds. |
| Section 125.2665 | Section | Work plan; documents to be submitted for approval; conditions for approval; written response; time limitations; department specific activities; review by department; approval or denial of work plan as final decision; appeal; approval by Michigan strategic fund or Michigan state housing development authority; duties; criteria; failure to provide written response; final approval; report; distribution of remaining funds; extension of review period; approval of combined brownfield plan. |
| Section 125.2665a | Section | Retention and payment of taxes levied under state education tax act; conditions; use; application for approval by authority; information to be included; approval, modification, or denial of application by department of treasury; appropriation and distribution of amount; aggregate amount; lien; obligations; copy of application; calculations; legislative intent; definitions. |
| Section 125.2665b | Section | Reimbursement to intermediate school districts. |
| Section 125.2666 | Section | Tax increment revenues; transmission to authority; expenditure; reversion of surplus funds; financial status report; collection and compilation of financial reports by department, Michigan strategic fund, and Michigan state housing development authority; reporting obligations; performance postaudit report by auditor general; report by owner or developer for active project within brownfield plan; requirements applicable to transformational brownfield plan. |
| Section 125.2667 | Section | Authorization, issuance, and sale of tax increment bonds and notes. |
| Section 125.2668 | Section | Operating budget. |
| Section 125.2669 | Section | Dissolution of authority; distribution of tax revenues and interest. |
| Section 125.2670 | Section | Enforcement proceedings. |
| Section 125.2671 | Section | Repealed. 2016, Act 471, Eff. Apr. 5, 2017. |
| Section 125.2672 | Section | Repealed. 2016, Act 471, Eff. Apr. 5, 2017. |
Michigan Compiled Laws Complete Through PA 198 of 2023