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2012 House Bill 5557: Retroactively exempt a DDA from certain requirements
Public Act 510 of 2012
Introduced by Rep. Margaret O'Brien R-Portage on April 24, 2012
To retroactively create an exception for the Kalamazoo and Battle Creek Downtown Development Authorities, which failed to comply with certain requirements in the law that would allow them to “capture” a portion of taxes levied by local governments, even if the local has exempted a particular corporation from a tax. DDAs use the money they "capture" to repay debt they incur for spending that benefits property owners in a specified portion of the community. Official Text and Analysis.
Referred to the House Tax Policy Committee on April 24, 2012
Reported in the House on June 6, 2012
Without amendment and with the recommendation that the bill pass.
Received in the Senate on October 17, 2012
Referred to the Senate Economic Development Committee on October 17, 2012
Reported in the Senate on December 6, 2012
With the recommendation that the bill pass.
Signed by Gov. Rick Snyder on December 27, 2012