To revise various details of the law authorizing the extensive tax exemptions of a “renaissance zone" to better accommodate “Next Michigan Development Corporations,” authorized by a 2010 law to give tax breaks and subsidies to particular corporations or developers for projects meeting extremely broad "multi-modal commerce" criteria (basically, any form of goods-related commerce). In addition to allowing more businesses to receive these benefits, the bill would make changes intended to facilitate actually generating eligible “multi-modal” projects, which apparently have not come about since that 2010 law was passed. The bill is also related to Senate Bill 397, which would authorize creation of a sixth “Next Michigan Development Corporation” to be located in the Upper Peninsula.   Official Text and Analysis.

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.