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Michigan Compiled Laws Complete Through PA 40 of 2018
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Senate: Adjourned until Tuesday, March 20, 2018 10:00:00 AM

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Act 250 of 2010
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Act 250 of 2010

AN ACT to provide for the establishment of a private source of funding for public infrastructure; to prescribe the powers and duties of certain public entities; to finance public infrastructure through public and private sources; to authorize the acquisition and disposal of interests in real and personal property; to authorize certain public and private entity partnerships; to authorize the creation and implementation of certain plans and negotiated benefit areas; to promote economic development; to authorize the use of tax increment financing; to prescribe powers and duties of certain state and local officials; to provide for rule promulgation; and to provide for enforcement of the act.

History: 2010, Act 250, Imd. Eff. Dec. 14, 2010

© 2017 Legislative Council, State of Michigan

The People of the State of Michigan enact:

Section 125.1871SectionShort title.
Section 125.1872SectionDefinitions; A to N.
Section 125.1873SectionDefinitions; P to T.
Section 125.1874SectionDeveloping and financing public facilities; multiple negotiating partnerships.
Section 125.1875SectionPromotion of economic development and public infrastructure; intent of municipality to enter negotiating partnerships; adoption of resolution; filing copy; publication; agreement with adjoining municipality.
Section 125.1876SectionMeeting and proceedings subject to open meetings act; writings subject to freedom of information act.
Section 125.1877SectionNegotiating partnership; provisions; conformity with laws relating to use of state and federal funds.
Section 125.1878SectionPublic facility; financing sources; deposit of certain money received by administering agency.
Section 125.1879SectionNegotiation with private sector investors; bid process; inclusion of certain costs; pledge of tax increment revenues; written agreement; contents.
Section 125.1880SectionTax increment financing plan.
Section 125.1881SectionTax increment revenues; transmission to lead fiduciary agency; expenditures; reversion of unused funds; limitation on use of funds; abolishment of plan; status report; contents.
Section 125.1882SectionDissolution of negotiating partnership.
Section 125.1883SectionProceedings to compel enforcement of act; rules.
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