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Legislation watch
2017 Senate Bill 98: Authorize Flint “promise zone” tax increment financing authority
Public Act 150 of 2017
Introduced by Sen. Jim Ananich D-Flint on February 2, 2017
To expand from 10 to 11 the number of “promise zone” tax increment financing authorities (TIFA) located in low income and “low educational attainment” areas, with the new one in Flint. These entities were authorized by a 2008 law to “capture" a portion of any increases in the state portion of school property tax revenue in the area, and use the money to partially subsidize college tuition for local students. Official Text and Analysis.
Referred to the Senate Government Operations Committee on February 2, 2017
Received in the House on May 16, 2017
Referred to the House Education Committee on May 16, 2017
Reported in the House on October 5, 2017
With the recommendation that the substitute (H-1) be adopted and that the bill then pass. H-1 would increase the number of these tax increment financing authorities from 10 to 15.
To expand from 10 to 15 the number of “promise zone” tax increment financing authorities (TIFA) located in low income and “low educational attainment” areas. These entities were authorized by a 2008 law to “capture" a portion of any increases in the state portion of school property tax revenue in the area, and use the money to partially subsidize college tuition for local students.
Received in the Senate on October 18, 2017
Signed by Gov. Rick Snyder on November 6, 2017