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2013 House Bill 4487: Authorize DDA debt and spending to promote local agriculture
Introduced by Rep. Stacy Erwin Oakes D-Saginaw on March 21, 2013
To empower Downtown Development Authorities to borrow and spend the loan proceeds on “marketing initiatives," "infrastructure improvements" and more that "promote local agriculture products and farmers markets." The debt incurred by these "tax increment financing" schemes is repaid by "capturing" from other local taxing units the increased property tax revenue that the DDA's subsidies and spending are presumed to generate.   Official Text and Analysis.
Referred to the House Commerce Committee on March 21, 2013
Reported in the House on January 22, 2014
Without amendment and with the recommendation that the bill pass.
Received in the Senate on February 19, 2014
Referred to the Senate Economic Development Committee on February 19, 2014
Reported in the Senate on March 27, 2014
With the recommendation that the bill pass.