There is a newer version of the Michigan Compiled Laws
2010 Michigan Compiled Laws
Chapter 125 - PLANNING, HOUSING, AND ZONING
Act 381 of 1996 - BROWNFIELD REDEVELOPMENT FINANCING ACT (125.2651 - 125.2672)
BROWNFIELD REDEVELOPMENT FINANCING ACTAct 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, tax reverted, blighted, or functionally obsolete property; 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
- Section 125.2651 - Short title.
- Section 125.2652 - Definitions.
- Section 125.2653 - Brownfield redevelopment authority; establishment; exercise of powers; alteration or amendment of boundaries; authority as public body corporate; written agreement with county.
- Section 125.2654 - Resolution by governing body; adoption; notice; public hearing; proceedings establishing authority; presumption of validity; exercise as essential governmental function; implementation or modification of plan.
- Section 125.2655 - 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 - Appointment or employment of director, treasurer, secretary, personnel, and consultants; assistance provided by municipality; retirement and insurance programs.
- Section 125.2657 - Powers of authority; determining captured taxable value; transfer of municipality funds to authority.
- Section 125.2658 - Local site remediation revolving fund.
- Section 125.2659 - Authority as instrumentality of political subdivision.
- Section 125.2660 - Taking, transfer, and use of private property.
- Section 125.2661 - Financing sources of authority activities.
- Section 125.2662 - Bonds and notes of authority.
- Section 125.2663 - Brownfield plan; provisions.
- Section 125.2664 - Brownfield plan as public purpose; determination; amendments to plan; validity of procedure, notice, and findings; presumption.
- Section 125.2665 - Prohibited conduct; work plan; documents to be submitted for approval; written request pertaining to baseline environmental assessment activities or due care activities; additional response activities; denial of work plan as final decision; appeal; reimbursement of costs to review work plan; report; distribution of remaining funds; use of school operating taxes; extension of review period.
- Section 125.2665a - Retention and payment of taxes levied under state education tax act; conditions; application for approval by authority; 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; definitions.
- Section 125.2666 - Tax increment revenues; transmission to authority; expenditure; reversion of surplus funds; abolishment of plan; financial status report; collection of financial reports by state tax commission; performance postaudit report by auditor general.
- Section 125.2667 - Authorization, issuance, and sale of tax increment bonds and notes.
- Section 125.2668 - Operating budget.
- Section 125.2669 - Dissolution of authority; distribution of tax revenues and interest.
- Section 125.2670 - Enforcement proceedings.
- Section 125.2671 - Taxes levied before December 31, 1996.
- Section 125.2672 - Conditional effective date.
Disclaimer: These codes may not be the most recent version. Michigan may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.