Introduced
by
To amend the eligibility criteria for communities to create local development finance authorities, which undertake public facility projects funded by tax increment financing. The bill would extend this authority to the township of Grass Lake in Jackson County so that it could provide various direct or indirect subsidies to the Tenneco Automotive company.
Referred to the Committee on Economic Development and Regulatory Reform
Reported without amendment
With the recommendation that the substitute (S-2) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that more clearly defines the Township of Grass Lake as the only entity that could qualify for the proposed exception (although the township is not named, since that would make the bill a "local act" that requires a supermajority to pass under the state Constitution), and gives the township more time to establish the local development financing authority needed to grant the anticipated tax breaks to Tenneco Automotive.
The substitute passed by voice vote
Passed in the Senate 36 to 0 (details)
Referred to the Committee on Commerce
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 76 to 28 (details)
To amend the eligibility criteria for communities to create local development finance authorities, which undertake public facility projects funded by tax increment financing. The bill would extend this authority to the township of Grass Lake in Jackson County so that it could provide various direct or indirect subsidies to the Tenneco Automotive company.
