Introduced by Rep. Wayne Schmidt R-Traverse City on January 17, 2012
To authorize two additional “certified technology parks” ("smart zones"), in which revenues "captured" from other local governments using “tax increment financing” schemes is used to pay the debt service on money borrowed by a government authority to benefit particular "large corporate research" operations. Official Text and Analysis.
Referred to the House Commerce Committee on January 17, 2012
Reported in the House on May 24, 2012
With the recommendation that the substitute (H-2) be adopted and that the bill then pass.
Substitute offered in the House on June 7, 2012
The substitute passed by voice vote in the House on June 7, 2012
Amendment offered by Rep. Mike Shirkey R-Clark Lake on June 7, 2012
To require the foregone local government and school taxes "captured" by these "smart zones" to be reimbursed out of the budget of the Michigan Strategic fund.
The amendment passed by voice vote in the House on June 7, 2012