March 14, 2018, Introduced by Rep. VerHeulen and referred to the Committee on Local Government.
A bill to amend 1961 PA 120, entitled
"An act to authorize the development or redevelopment of principal
shopping districts and business improvement districts; to permit
the creation of certain boards; to provide for the operation of
principal shopping districts and business improvement districts; to
provide for the creation, operation, and dissolution of business
improvement zones; and to authorize the collection of revenue and
the bonding of certain local governmental units for the development
or redevelopment projects,"
by amending section 10 (MCL 125.990), as amended by 2013 PA 126.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 10. As used in this chapter:
(a) "Assessable property" means real property in a zone area
other
than property classified as residential real property under
section
34c of the general property tax act, 1893 PA 206, MCL
211.34c,
or real property exempt from the
collection of taxes under
the general property tax act, 1893 PA 206, MCL 211.1 to 211.155.
(b) "Assessment" means an assessment imposed under this
chapter against assessable property for the benefit of the property
owners.
(c) "Assessment revenues" means the money collected by a
business improvement zone from any assessments, including any
interest on the assessments.
(d) "Board" means the board of directors of a business
improvement zone.
(e) "Business improvement zone" means a business improvement
zone created under this chapter.
(f) "Nonprofit corporation" means a nonprofit corporation
organized under the nonprofit corporation act, 1982 PA 162, MCL
450.2101 to 450.3192, and which complies with all of the following:
(i) The articles of incorporation of the nonprofit corporation
provide that the nonprofit corporation may promote a business
improvement zone and may also provide management services related
to the implementation of a zone plan.
(ii) The nonprofit corporation is exempt from federal income
tax under section 501(c)(4) or 501(c)(6) of the internal revenue
code, 28 USC 501.
(g) "Person" means an individual, partnership, corporation,
limited liability company, association, or other legal entity.
(h) "Project" means any activity for the benefit of property
owners authorized by section 10a to enhance the business
environment within a zone area.
(i) "Property owner" means a person who owns, or an agent
authorized in writing by a person who owns, assessable property
according to the records of the treasurer of the city or village in
which the business improvement zone is located.
(j) "10-year period" means the period in which a business
improvement zone is authorized to operate, beginning on the date
that the business improvement zone is created or renewed and ending
10 calendar years after that date.
(k) "Zone area" means the area designated in the zone plan as
the area to be served by the business improvement zone.
(l) "Zone plan" means a set of goals, strategies, objectives,
and guidelines for the operation of a business improvement zone, as
approved at a meeting of property owners conducted under section
10d.