Michigan Legislature - Act 381 of 1996

      MICHIGAN LEGISLATURE
95th Legislature Regular Session
Michigan Compiled Laws Complete Through PA 242 of 2009

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mcl Act 381 of 1996

Act 381 of 1996

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BROWNFIELD REDEVELOPMENT FINANCING ACT
Act 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

Document	Type	Description
Section 125.2651	Section	Short title.
Section 125.2652	Section	Definitions.
Section 125.2653	Section	Brownfield redevelopment authority; establishment; exercise of powers; alteration or amendment of boundaries; authority as public body corporate; written agreement with county.
Section 125.2654	Section	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	Section	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	Section	Appointment or employment of director, treasurer, secretary, personnel, and consultants; assistance provided by municipality; retirement and insurance programs.
Section 125.2657	Section	Powers of authority; determining captured taxable value; transfer of municipality funds to authority.
Section 125.2658	Section	Local site remediation revolving fund.
Section 125.2659	Section	Authority as instrumentality of political subdivision.
Section 125.2660	Section	Taking, transfer, and use of private property.
Section 125.2661	Section	Financing sources of authority activities.
Section 125.2662	Section	Bonds and notes of authority.
Section 125.2663	Section	Brownfield plan; provisions.
Section 125.2664	Section	Brownfield plan as public purpose; determination; amendments to plan; validity of procedure, notice, and findings; presumption.
Section 125.2665	Section	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	Section	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	Section	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	Section	Authorization, issuance, and sale of tax increment bonds and notes.
Section 125.2668	Section	Operating budget.
Section 125.2669	Section	Dissolution of authority; distribution of tax revenues and interest.
Section 125.2670	Section	Enforcement proceedings.
Section 125.2671	Section	Taxes levied before December 31, 1996.
Section 125.2672	Section	Conditional effective date.

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