Introduced by Sen. Mike Nofs (R) on November 28, 2018
To revise the formulas used to divert some school tax revenue to subsidies paid by Brownfield and Downtown Development Authorities to developers for certain projects primarily in Detroit, but also in Battle Creek. This relates to state reimbursements to local taxing authorities whose revenues are “captured” by the DDA through a tax increment financing scheme, and presumably refers mostly to the impact of the Detroit DDA’s huge subsidies to the Ilitch family’s Little Ceasar’s Arena project. Official Text and Analysis.
Referred to the Senate Economic Development and International Investment Committee on November 28, 2018