Public Act 521 of 2004

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• Introduced by Sen. Michelle McManus (R) on May 13, 2004, to allow Downtown Development Authorities (DDA’s) in neighboring municipalities to enter joint operating agreements. DDA’s have the power to levy up to two-mills in property taxes on local businesses, to borrow, and to create tax increment financing plans. These “capture” the increment of increased local property tax revenue anticipated from the economic growth which it is hoped will be generated by the construction of new public facilities. Money is borrowed to fund the new facilities, and the “captured” tax revenue is used to pay off the loan.
  • Referred to the Senate Commerce and Labor Committee on May 13, 2004.
  • Reported in the Senate on June 3, 2004, with the recommendation that the bill pass.
• Passed 37 to 0 in the Senate on June 9, 2004.
  Who Voted "Yes" and Who Voted "No"
• Received in the House on June 9, 2004.
  • Referred to the House Commerce Committee on June 9, 2004.
    • Reported in the House on September 15, 2004, with the recommendation that the bill be referred to the Committee on Land Use and Environment.
  • Referred to the House Land Use and Environment Committee on September 15, 2004.
  • Reported in the House on December 1, 2004, with the recommendation that the substitute (H-2) be adopted and that the bill then pass.
  • Substitute offered in the House on December 9, 2004, to replace the previous version of the bill with one that also revises the law to allow a DDA to be created around a particular development in Livingston County. The substitute passed by voice vote in the House on December 9, 2004.
• Passed 106 to 0 in the House on December 9, 2004, to allow Downtown Development Authorities (DDA’s) in neighboring municipalities to enter joint operating agreements. DDA’s have the power to levy up to two-mills in property taxes on local businesses, to borrow, and to create tax increment financing plans. These “capture” the increment of increased local property tax revenue anticipated from the economic growth which it is hoped will be generated by the construction of new public facilities. Money is borrowed to fund the new facilities, and the “captured” tax revenue is used to pay off the loan. The bill also revises the law to allow a DDA to be created around a particular development in Livingston County.
  Who Voted "Yes" and Who Voted "No"
• Received in the Senate on December 9, 2004, to concur with the House-passed version of the bill, which also revises the law to allow a DDA to be created around a particular development in Livingston County. Passed 36 to 0 in the Senate on December 9, 2004.
  Who Voted "Yes" and Who Voted "No"
• Signed by Gov. Jennifer Granholm on January 3, 2005.