MCL - Index of Act 57 of 2018
NOTE: Dates reflect any modification to item, not necessarily a change in law.
| Title | Subject |
|---|---|
| Act 57 of 2018 | RECODIFIED TAX INCREMENT FINANCING ACT (125.4101 - 125.4915) |
| 57-2018-1 | PART 1 GENERAL PROVISIONS (125.4101...125.4104) |
| Section 125.4101 | Short title. |
| Section 125.4102 | Repeal of statute or section of law; effect. |
| Section 125.4103 | Board of authority created under repealed statute or section of law; continuation in office; duration; appointment. |
| Section 125.4104 | Act as recodification of certain existing acts. |
| 57-2018-2 | PART 2 DOWNTOWN DEVELOPMENT AUTHORITIES (125.4201...125.4230) |
| Section 125.4201 | Definitions. |
| Section 125.4201a | Legislative findings. |
| Section 125.4202 | Authority; establishment; restriction; public body corporate; powers generally. |
| Section 125.4203 | Resolution of intent to create and provide for operation of authority; public hearing on proposed ordinance creating authority and designating boundaries of downtown district; notice; exemption of taxes from capture; action by library board or commission; adoption, filing, and publication of ordinance; altering or amending boundaries; agreement with adjoining municipality; agreement with qualified township. |
| Section 125.4203a | Authority of annexing or consolidated municipality; obligations, agreements, and bonds. |
| Section 125.4203b | Ratification and validation of ordinance and actions; compliance. |
| Section 125.4203c | Proceedings or findings; validity. |
| Section 125.4203d | Establishment or amendment of authority, district, or plan; notice; publication or posting. |
| Section 125.4204 | Board; appointment, terms, and qualifications of members; vacancy; compensation and expenses; election of chairperson; appointment as public official; oath; conducting business at public meeting; public notice; special meetings; removal of member; review; expense items and financial records; availability of writings to public; single board governing all authorities; member as resident or having interest in property; planning commission serving as board in certain municipalities; modification by interlocal agreement. |
| Section 125.4205 | Director; acting director; treasurer; secretary; legal counsel; other personnel. |
| Section 125.4206 | Participation of employees in municipal retirement and insurance programs. |
| Section 125.4207 | Powers of board; creation, operation, or funding of retail business incubator. |
| Section 125.4208 | Board serving as planning commission; agenda. |
| Section 125.4209 | Authority as instrumentality of political subdivision. |
| Section 125.4210 | Taking, transfer, and use of private property. |
| Section 125.4211 | Financing activities of authority; disposition of money received by authority; municipal obligations. |
| Section 125.4212 | Ad valorem tax; borrowing in anticipation of collection. |
| Section 125.4213 | Revenue bonds. |
| Section 125.4213a | Borrowing money; issuing revenue bonds or notes; purpose; costs; security; pledge and lien of pledge valid and binding; filing or recordation not required; tax exemption; bonds or notes neither liability nor debt of municipality; statement; investment and deposit of bonds and notes. |
| Section 125.4213b | Insufficient tax increment revenues to repay advance or pay obligation; contents, time, and payment of claim; appropriation and distribution of aggregate amount; limitations; distribution subject to lien; obligation as debt or liability; certification of distribution amount; basis for calculation of distributions and claim reports. |
| Section 125.4213c | 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 125.4214 | Tax increment financing plan; preparation and contents; limitation; public hearing; fiscal and economic implications; recommendations; agreements; modification of plan; catalyst development project. |
| Section 125.4215 | Transmitting and expending tax increments revenues; reversion of surplus funds; abolishment of tax increment financing plan; conditions. |
| Section 125.4216 | General obligation bonds and tax increment bonds; qualified refunding obligation. |
| Section 125.4217 | Development plan; preparation; contents. |
| Section 125.4218 | Ordinance approving or amending development plan or tax increment financing plan; public hearing; notice; record. |
| Section 125.4219 | Development plan or tax increment financing plan as constituting public purpose; determination; ordinance; considerations; amendments; incorporation of catalyst development project plan. |
| Section 125.4220 | Notice to vacate. |
| Section 125.4221 | Development area citizens council; establishment; appointment and qualifications of members; representative of development area. |
| Section 125.4222 | Development area citizens council; advisory body. |
| Section 125.4223 | Consultation. |
| Section 125.4224 | Development area citizens council; meetings; notice; record; information and technical assistance; failure to organize, consult, or advise. |
| Section 125.4225 | Citizens district council as development area citizens council. |
| Section 125.4226 | Notice of findings and recommendations. |
| Section 125.4227 | Development area citizens council; dissolution. |
| Section 125.4228 | Budget; cost of handling and auditing funds. |
| Section 125.4228a | Exemption. |
| Section 125.4229 | Historic sites. |
| Section 125.4230 | Dissolution of authority; disposition of property and assets; reinstatement of authority; contesting validity of proceedings, findings, and determinations. |
| 57-2018-3 | PART 3 TAX INCREMENT FINANCE AUTHORITIES (125.4301...125.4329) |
| Section 125.4301 | Definitions. |
| Section 125.4301a | Short title of part. |
| Section 125.4302 | Authority; establishment; public body corporate; powers generally. |
| Section 125.4303 | 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 | Board; powers generally. |
| Section 125.4308 | Board serving as planning commission; agenda. |
| Section 125.4309 | Authority as instrumentality of political subdivision. |
| Section 125.4310 | Taking, transfer, and use of private property by municipality. |
| Section 125.4311 | Financing activities of authority; sources. |
| Section 125.4312 | Borrowing money; issuing negotiable revenue bonds; full faith and credit. |
| Section 125.4312a | 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. |
| 57-2018-4 | PART 4 LOCAL DEVELOPMENT FINANCE AUTHORITIES (125.4401...125.4420) |
| Section 125.4401 | Legislative findings; short title of part. |
| Section 125.4402 | Definitions. |
| Section 125.4403 | Authority; establishment by municipality; establishment by Next Michigan development corporation; limitation; powers. |
| Section 125.4404 | Resolution of intent to create and provide for operation of authority; notice of public hearing; hearing; resolution exempting taxes from capture; action of library board or commission; resolution establishing authority and designating boundaries; filing and publication; alteration or amendment of boundaries; validity of proceedings; establishment of authority by 2 or more municipalities; procedures to be followed by Next Michigan development corporation. |
| Section 125.4405 | Board; appointment, qualification, and terms of members; vacancy; reimbursement for expenses; chairperson; oath of office; rules; procedure; meetings; removal of member; publicizing expense items; financial records open to public; subsections (1) and (5) inapplicable to certain authority. |
| Section 125.4406 | Director; employment; compensation; oath of office; bond; chief executive officer; duties; acting director; appointment or employment, compensation, and duties of treasurer; appointment or employment, compensation, and duties of secretary; legal counsel; employment of other personnel; municipal retirement and insurance programs. |
| Section 125.4407 | Powers of board generally. |
| Section 125.4408 | Authority as instrumentality of political subdivision. |
| Section 125.4409 | Taking, transfer, and use of private property. |
| Section 125.4410 | Financing activities of authority. |
| Section 125.4411 | Revenue bonds. |
| Section 125.4411a | Insufficient tax increment revenues for repayment of advance or payment of obligation; appropriation; filing claim; information required in claim; distributions; determination of amounts; limitations; distribution subject to lien; indebtedness, liability, or obligation; certification of distribution amount; basis for calculation of distributions and claims reports; use of 12-month debt payment period. |
| Section 125.4411b | 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 125.4412 | Tax increment financing plan. |
| Section 125.4412a | Designation as certified technology park; application to Michigan economic development corporation; agreement; determination of sale price or rental value for public facilities; inclusion of legal and equitable remedies and rights; marketing services; additional certified technology parks; priority to certain applications; duties of state. |
| Section 125.4412b | Creation of authority in which certified technology park designated; agreement with another authority; designation of distinct geographic area; consideration of advantages and benefits; capture of amounts levied by state and local and intermediate school districts; application for approval of distinct geographic area; competitive application process; requirements. |
| Section 125.4412c | Designation as certified alternative energy park; application; criteria; agreement; determination of sale price or rental value for public facilities; inclusion of legal and equitable remedies and rights; limitations; pledge to support authority's tax increment bonds; ownership and operation by economic development corporation. |
| Section 125.4412d | Conveyance or lease of public facilities at less than fair market value or below market rates. |
| Section 125.4412e | Notice of designation of Next Michigan development area; marketing of authority district by Michigan economic development corporation; pledge to support tax increment bonds. |
| Section 125.4413 | Tax increment revenues transmitted to authority; expenditure of tax increment revenues; retention or reversion of excess revenue; prohibition; abolition of tax increment financing plan. |
| Section 125.4414 | Tax increment bonds; qualified refunding obligation. |
| Section 125.4415 | Development plan generally. |
| Section 125.4416 | Adoption of resolution approving development plan or tax increment financing plan; public hearing; notice; record. |
| Section 125.4417 | Development plan or tax increment financing plan as constituting public purpose; approval or rejection; considerations; amendments; procedure, notice, findings, and amendment as conclusive; contest. |
| Section 125.4418 | Relocation of person; notice to vacate. |
| Section 125.4419 | Preparation and submission of budget; manner; approval; cost of handling and auditing funds. |
| Section 125.4420 | Dissolution of authority; resolution; disposition of property and assets. |
| 57-2018-5 | PART 5 NONPROFIT STREET RAILWAYS (125.4503...125.4527) |
| Section 125.4503 | Legislative intent. |
| Section 125.4505 | Construction of act. |
| Section 125.4507 | Definitions. |
| Section 125.4509 | Street railway; organization; articles of incorporation; filing; applicability of the nonprofit corporation act. |
| Section 125.4511 | Nonprofit corporation as street railway; amendment of articles of incorporation required; provisions; adoption; filing; applicability of the nonprofit corporation act. |
| Section 125.4513 | Acquiring, constructing, operating, and maintaining street railway system on highways of road authority; approval; terms and conditions; operating license agreement; public hearing; decision as final and binding; costs; condition; easements; revoking consent or depriving rights and privileges; powers of street railway; "public transportation provider" defined. |
| Section 125.4515 | Use or consumption of electricity and electric power by street railway and street railway system; relocation and modification of public utility facilities; sound utility practice; costs; agreement; exemption from taxation; enforcement action; definitions. |
| Section 125.4517 | Street or highway grades; conformance by company; alteration or change; consent required; manner of laying and maintaining track. |
| Section 125.4519 | Rules and regulations; establishment by road authority. |
| Section 125.4521 | Refusal of person to pay fare or obey regulations; removal of person; placement of impediment upon track as felony; throwing stone, brick, or other missile as misdemeanor. |
| Section 125.4523 | Transit operations finance zone. |
| Section 125.4527 | Transfer of records to bureau of commercial services; organization of entity; street railway not subject to railroad code of 1993. |
| 57-2018-6 | PART 6 CORRIDOR IMPROVEMENT AUTHORITIES (125.4602...125.4629) |
| Section 125.4602 | Definitions; A to M. |
| Section 125.4603 | Definitions. |
| Section 125.4604 | Multiple authorities; establishment; public body corporate; powers. |
| Section 125.4605 | Development area; establishment in municipality; exception; criteria; compliance. |
| Section 125.4606 | Creation of authority; resolution by governing body; notice of public hearing; adoption of resolution designating boundaries; alteration or amendment; interlocal agreement. |
| Section 125.4607 | Annexation or consolidation; effect. |
| Section 125.4608 | Authority under supervision and control of board; membership; appointment; terms; vacancy; expenses; chairperson; oath; proceedings and rules subject to open meetings act; removal of board member; financial records; writings subject to freedom of information act; members as members of business improvement district; creation of joint authority; board. |
| Section 125.4609 | Director, treasurer, secretary, legal counsel, other personnel; compensation; duties. |
| Section 125.4610 | Retirement and insurance programs. |
| Section 125.4611 | Board; powers. |
| Section 125.4612 | Authority as instrument of political subdivision. |
| Section 125.4613 | Acquisition of private property; transfer to authority; use. |
| Section 125.4614 | Financing sources; disposition. |
| Section 125.4615 | Special assessment; levy; borrowing money and issuing notes. |
| Section 125.4616 | Revenue bonds. |
| Section 125.4617 | Acquisition or construction of property; financing; bonds or notes. |
| Section 125.4618 | Tax increment financing plan. |
| Section 125.4619 | Tax increment revenues; transmission; expenditures; use. |
| Section 125.4620 | Financing development program of tax increment financing plan; authorization, issuance, and sale of general obligation bonds; estimate of anticipated tax increment revenues; resolution; security; lien. |
| Section 125.4621 | Development plan; preparation; contents. |
| Section 125.4622 | Development plan; public hearing; notice; contents; opportunity to speak; hearing record. |
| Section 125.4623 | Approval, rejection, or approval with modification; considerations. |
| Section 125.4624 | Notice to vacate. |
| Section 125.4625 | Budget; submission to board; preparation; approval; adoption; cost of handling and auditing funds. |
| Section 125.4626 | Preservation of historical sites. |
| Section 125.4627 | Dissolution. |
| Section 125.4629 | Tax increment revenues; definition; condition. |
| 57-2018-7 | PART 7 WATER RESOURCE IMPROVEMENT AUTHORITIES (125.4702...125.4722) |
| Section 125.4702 | Definitions; A to M. |
| Section 125.4703 | Definitions; O to W. |
| Section 125.4704 | Establishment of multiple authorities; powers. |
| Section 125.4705 | Intent to create and provide for operation of authority within water resource improvement district; resolution of intent; notice of public hearing; adoption of ordinance; filing; publication; alteration or amendment of boundaries; agreement with adjoining municipality. |
| Section 125.4706 | Annexation or consolidation. |
| Section 125.4707 | Board; membership; qualifications; terms; appointment to fill vacancy; compensation; oath of office; proceedings and rules subject to open meetings act; meetings; removal of board member; publication of expense items; availability of financial records; writings subject to freedom of information act. |
| Section 125.4708 | Director; compensation; service; oath; bond; duties; acting director; treasurer; secretary; legal counsel; duties; other personnel. |
| Section 125.4709 | Participation of employees in municipal retirement and insurance programs; employees not civil service employees. |
| Section 125.4710 | Board; powers; duties; preparation of water resource management plan; consultation with certain entities; application for state and federal permits. |
| Section 125.4711 | Authority as instrumentality of political subdivision. |
| Section 125.4712 | Financing sources; disposition of money received. |
| Section 125.4713 | Borrowing money and issuing bonds. |
| Section 125.4714 | Borrowing money and issuing bonds or notes; security; pledge; lien; exemption of bonds or notes from taxation; municipality not liable on bonds and notes of authority; statement; investment; deposit. |
| Section 125.4715 | Tax increment financing plan; preparation and submission; development plan; statement of estimated impact; approval; notice, hearing, and disclosure provisions; modification; exempting taxes from capture; resolution; action of library board or commission. |
| Section 125.4716 | Transmission of tax increment revenues to authority; expenditures; terms; reversion of unused funds; abolishment of plan; conditions. |
| Section 125.4717 | Authorization, issuance, and sale of tax increment bonds. |
| Section 125.4718 | Development plan; contents. |
| Section 125.4719 | Development plan or tax increment financing plan; adoption of ordinance; notice of public hearing; purpose of public hearing. |
| Section 125.4720 | Determination of public purpose; approval or rejection of plan; modification; considerations. |
| Section 125.4721 | Operation of authority; budget; review by board; submission to governing body; adoption; cost of handling and auditing funds. |
| Section 125.4722 | Dissolution of authority. |
| 57-2018-8 | PART 8 NEIGHBORHOOD IMPROVEMENT AUTHORITIES (125.4802...125.4821) |
| Section 125.4802 | Definitions; A to M. |
| Section 125.4803 | Definitions; O to T. |
| Section 125.4804 | Multiple authorities; establishment; authority as public body corporate. |
| Section 125.4805 | Operation of authority; resolution of intent; public hearing; notice; adoption of ordinance establishing authority; filing; alteration or amendment of boundaries; exclusions; duration. |
| Section 125.4806 | Annexation or consolidation with another municipality. |
| Section 125.4807 | Board; chief executive officer; membership; appointment; terms; vacancy; oath; open meetings; removal of member; financial records; writings subject to freedom of information act. |
| Section 125.4808 | Director; compensation; service; eligibility; oath; posting of bond; director as chief executive officer; duties of director; acting director; treasurer; secretary; retention of legal counsel; other personnel. |
| Section 125.4809 | Municipal retirement and insurance programs; participation. |
| Section 125.4810 | Powers of board. |
| Section 125.4811 | Financing sources; disposition of money received. |
| Section 125.4812 | Borrowing money and issuing negotiable revenue bonds. |
| Section 125.4813 | Acquisition or construction of property; borrowing money and issuing revenue bonds; other financing; securing bonds and notes; pledge; exemption from taxation; exceptions; liability; investments. |
| Section 125.4814 | Tax increment financing plan; preparation and submission; contents; hearing and approval procedure; agreement with taxing jurisdiction; modification; exemption from tax; separate millage for public library purposes; resolution. |
| Section 125.4815 | Tax increment revenues; transmission to authority; expenditures. |
| Section 125.4816 | Authorization, issuance, and sale of tax increment bonds; limitations; pledge; resolution to create lien on revenues; limited tax pledge. |
| Section 125.4817 | Development plan; contents. |
| Section 125.4818 | Development plan; public hearing; notice; opportunity to speak and provide written comment. |
| Section 125.4819 | Development plan or tax increment financing plan as public purpose; consideration for approval, rejection, or modification. |
| Section 125.4820 | Budget; submission; approval; cost of handling and auditing funds. |
| Section 125.4821 | Dissolution of authority; property and assets. |
| 57-2018-9 | PART 9 REPORTING REQUIREMENTS (125.4901...125.4915) |
| Section 125.4901 | Definitions. |
| Section 125.4910 | Website; requirements. |
| Section 125.4911 | Capture of tax increment revenues; report by authority; contents; filing; compilation by department of treasury; submission to legislature; consultation with professional organizations. |
| Section 125.4912 | Copy or electronic mail link of adopted development plan or tax increment finance plan. |
| Section 125.4915 | Enforcement of act. |