2007 House Bill 4565 (Increase township improvement revolving fund interest cap )

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• Introduced by Rep. John Stakoe on April 5, 2007, to increase from 5 percent to 9 percent the cap on interest that can be charged by a township improvement revolving fund. These funds may be created by townships, funded by general township taxes, to provide a kind of “interim financing” for improvements that a special assessment tax has been approved for, but before the extra revenue from that tax increase begins to come in.
  • Referred to the House Intergovernmental, Urban And Regional Affairs Committee on April 5, 2007.

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Introduced by Rep. John Stakoe on April 5, 2007. New Comment