2007 Senate Bill 26: Authorize government subsidy for Grayling amusement park

Legislation watch

Comments on this legislation Post new comment Text and Analysis Add to Watch List
Previous Next

Introduced by Sen. Tony Stamas (R) on January 24, 2007, to authorize a tax increment financing authority in Grayling Township to subsidize the construction of an amusement park project. A tax increment finance authority (TIFA) "captures" the increment of extra local property tax revenue that would supposedly result from the economic growth which might be generated by the amusement park. The “captured” tax revenue is used to pay off the debt incurred by borrowing to subsidize the project, and is thus diverted from funding other local government services.
- Referred to the Senate Appropriations Committee on January 24, 2007.

Most Recent Comments

Add Comment

1) Just what we need a bunch more government paid directors, NOT! by Anonymous Citizen on June 30, 2007
This reads a lot like the Detroit "Downtown Development Authority", create an orginization to collect more taxes, when the real problem tourism is down is because our state taxes are to high. Drop the sales tax back down and drop the gas taxes down, then you would see people flocking to this state. The higher taxes have driven not only the tourism away but now the businesses too.
Reply

Line

2) This is why local control by plumberboy on June 4, 2007
This is why local control is the way to go then Grayling would decicde if the tax revenue should go to the park in a loan or to the items it normally pays for in their community. The thing is it will create about 2,000 jobs which I am sure a smaller town like Grayling needs.The problem is state tax money that is normally sent into the community will be used for this so in my opinion the local folks should get to vote on this not some fat cat in Lansing and if the system ran like it should be run all the loaned money would come from local taxpayers out of their funds the state wouldn't even be involved but because state government bleeds us for every tax dime it can their is very little left for local government we need to get rid of a lot of the state government and get back to local people running their communities and in control of their tax revenue.
Reply

Line

3) maybe the government by Anonymous Citizen on June 4, 2007
should CUT TAXES and REDUCE THE REGULATORY LOAD, and see if THAT brings in new business and prosperity.

it worked for the other states, let's try it here.
Reply

Line

View Full Conversation