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2018 Michigan Compiled Laws
Chapter 125 - Planning, Housing, and Zoning
Act 250 of 2010 PRIVATE INVESTMENT INFRASTRUCTURE FUNDING ACT (125.1871 - 125.1883)
***** Act 250 of 2010 THIS ACT IS REPEALED BY ACT 57 OF 2018 EFFECTIVE JANUARY 1, 2019 *****
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
- Section 125.1871 Short title.
- Section 125.1872 Definitions; A to N.
- Section 125.1873 Definitions; P to T.
- Section 125.1874 Developing and financing public facilities; multiple negotiating partnerships.
- Section 125.1875 Promotion of economic development and public infrastructure; intent of municipality to enter negotiating partnerships; adoption of resolution; filing copy; publication; agreement with adjoining municipality.
- Section 125.1876 Meeting and proceedings subject to open meetings act; writings subject to freedom of information act.
- Section 125.1877 Negotiating partnership; provisions; conformity with laws relating to use of state and federal funds.
- Section 125.1878 Public facility; financing sources; deposit of certain money received by administering agency.
- Section 125.1879 Negotiation with private sector investors; bid process; inclusion of certain costs; pledge of tax increment revenues; written agreement; contents.
- Section 125.1880 Tax increment financing plan.
- Section 125.1881 Tax increment revenues; transmission to lead fiduciary agency; expenditures; reversion of unused funds; limitation on use of funds; abolishment of plan; status report; contents.
- Section 125.1882 Dissolution of negotiating partnership.
- Section 125.1883 Proceedings to compel enforcement of act; rules.
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