Public Act 258 of 2003

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• Introduced by Rep. Chris Kolb (D) on March 27, 2003, to authorize the establishment of a Michigan Redevelopment Fast Track Authority, and of county and municipal land banks in Detroit and certain other multi-jurisdictional districts, which would have the power to assemble and dispose of tax reverted property. All property, income, and operations of a land bank would be exempt from taxation by the state or other government entity. An authority could assemble or dispose of tax reverted property in a coordinated manner, and establish procedures to acquire and gain clear title to the tax reverted properties. It would be granted extensive powers to acquire real or personal property by gift, devise, transfer, exchange, foreclosure, purchase, etc.; and to own, lease out, convey, demolish, relocate, or rehabilitate real or personal property. The bill is part of a legislative package comprised of House Bills 4480 to 4484, and House Bill 4488.
  • Referred to the House Land Use and Environment Committee on March 27, 2003.
  • Reported in the House on June 26, 2003, with the recommendation that the substitute (H-3) be adopted and that the bill then pass.
  • Substitute offered in the House on July 1, 2003, to replace the previous version of the bill with one recommended by the committee which reported it. The substitute incorporates technical changes resulting from committee testimony and deliberation. These changes do not affect the substance of the bill as previously described. The substitute passed by voice vote in the House on July 1, 2003.
• Passed 107 to 0 in the House on July 1, 2003, to authorize the establishment of a Michigan Land Bank Fast Track Authority, and authorize county and municipal land banks in Detroit and certain other multi-jurisdictional districts, which would have the powerto assemble and dispose of tax reverted property. All property, income, and operations of a land bank would be exempt from taxation by the state or other government entity. An authority could assemble or dispose of tax reverted property in a coordinated manner, and establish procedures to acquire and gain clear title to the tax reverted properties. It would be granted extensive powers to acquire real or personal property by gift, devise, transfer, exchange, foreclosure, purchase, etc.; and to own, lease out, convey, demolish, relocate, or rehabilitate real or personal property. The bill is part of a legislative package comprised of House Bills 4480 to 4484, and House Bill 4488.
  Who Voted "Yes" and Who Voted "No"
• Received in the Senate on July 2, 2003.
  • Referred to the Senate Finance Committee on July 2, 2003.
    • Reported in the Senate on December 2, 2003, with the recommendation that the substitute (S-1) be adopted and that the bill then pass.
  • Substitute offered in the Senate on December 11, 2003, to replace the previous version of the bill with one which incorporates technical changes that do not affect the substance of the bill as previously described. The substitute passed by voice vote in the Senate on December 11, 2003.
• Passed 35 to 0 in the Senate on December 16, 2003, to authorize the establishment of a Michigan Land Bank Fast Track Authority, and of county and municipal land banks in Detroit and certain other multi-jurisdictional districts, which would have the power to assemble and dispose of tax reverted property. All property, income, and operations of a land bank would be exempt from taxation by the state or other government entity. An authority could assemble or dispose of tax reverted property in a coordinated manner, and establish procedures to acquire and gain clear title to the tax reverted properties. It would be granted extensive powers to acquire real or personal property by gift, devise, transfer, exchange, foreclosure, purchase, etc.; and to own, lease out, convey, demolish, relocate, or rehabilitate real or personal property. The bill is part of a legislative package comprised of House Bills 4480 to 4484, and House Bill 4488.
  Who Voted "Yes" and Who Voted "No"
• Received in the House on December 16, 2003.
• Passed 108 to 0 in the House on December 17, 2003, to concur with the Senate-passed version of the bill.
  Who Voted "Yes" and Who Voted "No"
• Signed by Gov. Jennifer Granholm on January 5, 2004.