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

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

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 125.2666 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. 2015, Act 471, Eff. Apr. 5, 2017.

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