PocketLaw | Michigan Compiled Laws | Part 3 Tax Increment Finance

Resolution of Intent to Create and Provide Operation of Authority; Determinations; Notice of Public Hearing; Adoption, Filing, and Publication of Resolution Establishing Authority and Designating Boundaries of Authority District; Alteration or Amendment of Boundaries; Validity of Proceedings Establishing Authority; Action by Library Board or Commission.

Section
125.4304

Board; Composition; Chairperson; Oath of Member; Rules Governing Procedure and Meetings; Meetings Open to Public; Removal of Member; Publicizing Expense Items; Financial Records Open to Public.

Section
125.4305

Board; Employment, Compensation, Term, Oath, and Bond of Director; Chief Executive Office; Duties of Director; Absence or Disability of Director; Reports; Employment, Compensation, and Duties of Treasurer and Secretary; Retention and Duties of Legal Counsel; Employment of Other Personnel; Participation in Municipal Retirement and Insurance Programs.

Section
125.4307

Insufficient Tax Increment Revenues for Repayment of Advance or Payment of Obligation; Appropriation and Distribution to Authority; Filing, Time, and Contents of Claim; Distribution of Amounts in 2 Equal Payments; Appropriation and Distribution of Aggregate Amount; Limitations; Distribution Subject to Lien; Obligation as Debt or Liability; Certification of Distribution Amount; Basis for Calculations of Distributions and Claims Reports; Debt Payment Period.

Section
125.4312b

Retention and Payment of Taxes Levied Under State Education Tax Act; Conditions; Application by Authority for Approval; 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.

Section
125.4313

Preparation and Submission of Tax Increment Financing Plan; Contents and Approval of Plan; Public Hearing; Taxing Jurisdictions.

Section
125.4314

Transmitting and Expending Tax Increment Revenues; Disposition of Surplus Funds; Abolition of Tax Increment Financing Plan.

Section
125.4315

Tax Increment Bonds; Qualified Refunding Obligation.

Section
125.4316

Development Plan; Preparation; Contents.

Section
125.4317

Public Hearing on Development Plan; Publication, Mailing, and Contents of Notice; Presentation of Data; Record.

Section
125.4318

Development Plan or Tax Increment Plan as Public Purpose; Determination; Approval or Rejection of Plan; Notice and Hearing; Conclusiveness of Procedure, Adequacy of Notice, and Certain Findings; Validation and Conclusiveness of Plan; Contesting Plan.

Section
125.4319

Notice to Vacate.

Section
125.4320

Development Area Citizens Council; Establishment; Advisory Body; Appointment and Qualifications of Members.

Section
125.4321

Consultation Representative of Authority and Council.

Section
125.4322

Meetings of Council; Open to Public; Notice; Hearing Persons Present at Meeting; Record; Information and Technical Assistance; Failures Not Precluding Adoption of Development Plan.

Section
125.4323

Development or Tax Increment Financing Plan; Notice of Findings and Recommendations.

Section
125.4324

Development Area Citizens Council; Dissolution.

Section
125.4325

Budget; Cost of Handling and Auditing Funds.

Section
125.4326

Preservation of Public Facility, Building, or Structure Having Significant Historical Interest; Review of Proposed Changes to Exterior of Historic Site.

Section
125.4327

Dissolution of Authority; Resolution; Disposition of Property and Assets.

Section
125.4328

Authority District Part of Area Annexed to or Consolidated With Another Municipality; Authority of Annexing or Consolidated Municipality; Effect of Obligations, Agreements, and Bonds.

Section
125.4329

New Authority or Authority District and Boundaries of Authority District; Prohibitions; Validity of Tax Increment Finance Authority, Authority District, Development Area, Development Plan, or Tax Increment Financing Plan Established Before December 30, 1986; Development Area Created or Expanded After December 29, 1986.

Part 3 Tax Increment Finance Authorities (125.4301...125.4329)

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Definitions.

Short Title of Part.

Authority; Establishment; Public Body Corporate; Powers Generally.

Board; Composition; Chairperson; Oath of Member; Rules Governing Procedure and Meetings; Meetings Open to Public; Removal of Member; Publicizing Expense Items; Financial Records Open to Public.

Board; Powers Generally.

Board Serving as Planning Commission; Agenda.

Authority as Instrumentality of Political Subdivision.

Taking, Transfer, and Use of Private Property by Municipality.

Financing Activities of Authority; Sources.

Borrowing Money; Issuing Negotiable Revenue Bonds; Full Faith and Credit.

Preparation and Submission of Tax Increment Financing Plan; Contents and Approval of Plan; Public Hearing; Taxing Jurisdictions.

Transmitting and Expending Tax Increment Revenues; Disposition of Surplus Funds; Abolition of Tax Increment Financing Plan.

Tax Increment Bonds; Qualified Refunding Obligation.

Development Plan; Preparation; Contents.

Public Hearing on Development Plan; Publication, Mailing, and Contents of Notice; Presentation of Data; Record.

Development Plan or Tax Increment Plan as Public Purpose; Determination; Approval or Rejection of Plan; Notice and Hearing; Conclusiveness of Procedure, Adequacy of Notice, and Certain Findings; Validation and Conclusiveness of Plan; Contesting Plan.

Notice to Vacate.

Development Area Citizens Council; Establishment; Advisory Body; Appointment and Qualifications of Members.

Consultation Representative of Authority and Council.

Meetings of Council; Open to Public; Notice; Hearing Persons Present at Meeting; Record; Information and Technical Assistance; Failures Not Precluding Adoption of Development Plan.

Development or Tax Increment Financing Plan; Notice of Findings and Recommendations.

Development Area Citizens Council; Dissolution.

Budget; Cost of Handling and Auditing Funds.

Preservation of Public Facility, Building, or Structure Having Significant Historical Interest; Review of Proposed Changes to Exterior of Historic Site.

Dissolution of Authority; Resolution; Disposition of Property and Assets.

Authority District Part of Area Annexed to or Consolidated With Another Municipality; Authority of Annexing or Consolidated Municipality; Effect of Obligations, Agreements, and Bonds.