2023 House Bill 5074 / Public Act 312

Economic development: tax increment financing; retroactive application; allow.

An act to amend 2018 PA 57, entitled “An act to provide for the recodification and establishment of certain tax increment finance authorities; to prescribe the powers and duties of the authorities; to correct and prevent deterioration in residential, commercial, and industrial areas and certain other areas; to authorize the acquisition and disposal of interests in real and personal property; to authorize the creation and implementation of development plans and development areas; to promote residential and economic growth; to create certain boards; to prescribe the powers and duties of certain boards; to authorize the issuance of bonds and other evidences of indebtedness; to levy certain taxes; to authorize the use of tax increment financing; to prescribe powers and duties of certain state officials; to provide for rule promulgation; to provide for enforcement of this act; and to repeal acts and parts of acts,” by amending section 402 (MCL 125.4402).

Introduced in the House

Oct. 3, 2023

Introduced by Rep. Will Snyder (D-87)

Referred to the Committee on Local Government and Municipal Finance

Oct. 11, 2023

Reported without amendment

Oct. 19, 2023

Passed in the House 63 to 46 (details)

Motion to give immediate effect by Rep. Abraham Aiyash (D-9)

The motion prevailed by voice vote

Received in the Senate

Oct. 24, 2023

Referred to the Committee on Economic and Community Development

Nov. 2, 2023

Reported without amendment

Nov. 7, 2023

Referred to the Committee of the Whole

Nov. 8, 2023

Reported without amendment

Passed in the Senate 24 to 11 (details)

Signed by Gov. Gretchen Whitmer

Dec. 14, 2023