MCL - 57-2018-3
Act 57 of 2018
TAX INCREMENT FINANCE AUTHORITIES
| Document | Type | Description |
|---|---|---|
| Section 125.4301 | Section | Definitions. |
| Section 125.4301a | Section | Short title of part. |
| Section 125.4302 | Section | Authority; establishment; public body corporate; powers generally. |
| Section 125.4303 | Section | 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 | Section | 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 | Section | 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 | Section | Board; powers generally. |
| Section 125.4308 | Section | Board serving as planning commission; agenda. |
| Section 125.4309 | Section | Authority as instrumentality of political subdivision. |
| Section 125.4310 | Section | Taking, transfer, and use of private property by municipality. |
| Section 125.4311 | Section | Financing activities of authority; sources. |
| Section 125.4312 | Section | Borrowing money; issuing negotiable revenue bonds; full faith and credit. |
| Section 125.4312a | Section | 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 | Section | 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 | Section | Preparation and submission of tax increment financing plan; contents and approval of plan; public hearing; taxing jurisdictions. |
| Section 125.4314 | Section | Transmitting and expending tax increment revenues; disposition of surplus funds; abolition of tax increment financing plan. |
| Section 125.4315 | Section | Tax increment bonds; qualified refunding obligation. |
| Section 125.4316 | Section | Development plan; preparation; contents. |
| Section 125.4317 | Section | Public hearing on development plan; publication, mailing, and contents of notice; presentation of data; record. |
| Section 125.4318 | Section | 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 | Section | Notice to vacate. |
| Section 125.4320 | Section | Development area citizens council; establishment; advisory body; appointment and qualifications of members. |
| Section 125.4321 | Section | Consultation representative of authority and council. |
| Section 125.4322 | Section | 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 | Section | Development or tax increment financing plan; notice of findings and recommendations. |
| Section 125.4324 | Section | Development area citizens council; dissolution. |
| Section 125.4325 | Section | Budget; cost of handling and auditing funds. |
| Section 125.4326 | Section | Preservation of public facility, building, or structure having significant historical interest; review of proposed changes to exterior of historic site. |
| Section 125.4327 | Section | Dissolution of authority; resolution; disposition of property and assets. |
| Section 125.4328 | Section | 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 | Section | 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. |