Introduced
by
To exempt new library property taxes from being “captured” by a local brownfields tax increment finance authority (with some exemptions) and used to pay for its various projects and subsidies. These authorities were authorized in the 1990s to clean up and put back in service abandoned industrial sites, but since then have increasingly been used to deliver <a href="http://www.michiganvotes.org/SearchLegislation.aspx?Results=50&EndDate=12%2F31%2F2015&StartDate=1%2F1%2F2001&Keywords=brownfield+tax+subsidy&op=Search ">”economic development” subsidies</a> to developers.
Referred to the Committee on Economic Development and International Investment
Reported without amendment
With the recommendation that the bill pass.
Passed in the Senate 37 to 1 (details)
To exempt new library property taxes from being “captured” by a local brownfields tax increment finance authority (with some exemptions) and used to pay for its various projects and subsidies. These authorities were authorized in the 1990s to clean up and put back in service abandoned industrial sites, but since then have increasingly been used to deliver <a href="http://www.michiganvotes.org/SearchLegislation.aspx?Results=50&EndDate=12%2F31%2F2015&StartDate=1%2F1%2F2001&Keywords=brownfield+tax+subsidy&op=Search ">”economic development” subsidies</a> to developers.
Referred to the Committee on Tax Policy
Reported without amendment
Without amendment and with the recommendation that the bill pass.
