381 of 1996 - Brownfield Redevelopment Financing Act (125.2651 - 125.2672)

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  4. 381 of 1996 - Brownfield Redevelopment Financing Act (125.2651 - 125.2672)

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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 of Powers as Essential Governmental Function.

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 Brownfield Revolving Fund.

Section
125.2658a

State Brownfield Redevelopment 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
125.2663a

Cost Recovery Action.

Section
125.2663b

Use of Taxes Captured From Eligible Property.

Section
125.2663c

Transformational Brownfield Plan.

Section
125.2664

Brownfield Plan; Approval; Public Hearing; Record; Notice; Public Purpose; Determination; Amendments to Plan; Validity of Procedure, Notice, and Findings; Presumption; Abolishment or Termination of Plan.

Section
125.2664a

Transformational Brownfield Plan; Approval and Review by Governing Body and Michigan Strategic Fund.

Section
125.2665

Work Plan; Documents to Be Submitted for Approval; Conditions for Approval; Written Response; Time Limitations; Department Specific Activities; Review by Department; Approval or Denial of Work Plan as Final Decision; Appeal; Approval by Michigan Strategic Fund; Duties; Criteria; Failure to Provide Written Response; Final Approval; Report; Distribution of Remaining Funds; Extension of Review Period; Approval of Combined Brownfield Plan.

Section
125.2665a

Retention and Payment of Taxes Levied Under State Education Tax Act; Conditions; Use; Application for Approval by Authority; Information to Be Included; Approval, Modification, or Denial of Application by Department of Treasury; Appropriation and Distribution of Amount; Aggregate Amount; Lien; Obligations; Copy of Application; Calculations; Legislative Intent; Definitions.

Section
125.2665b

Reimbursement to Intermediate School Districts.

Section
125.2666

Tax Increment Revenues; Transmission to Authority; Expenditure; Reversion of Surplus Funds; Financial Status Report; Collection and Compilation of Financial Reports by Department and Michigan Strategic Fund; Reporting Obligations; Performance Postaudit Report by Auditor General; Report by Owner or Developer for Active Project Within Brownfield Plan; Requirements Applicable to Transformational Brownfield Plan.

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

Repealed. 2016, Act 471, Eff. Apr. 5, 2017.

Section
125.2672

Repealed. 2016, Act 471, Eff. Apr. 5, 2017.