Introduced
by
To authorize the establishment of a Michigan Redevelopment Fast Track Authority, and of county and municipal land banks in Detroit and certain other multi-jurisdictional districts, which would have the power to assemble and dispose of tax reverted property. All property, income, and operations of a land bank would be exempt from taxation by the state or other government entity. An authority could assemble or dispose of tax reverted property in a coordinated manner, and establish procedures to acquire and gain clear title to the tax reverted properties. It would be granted extensive powers to acquire real or personal property by gift, devise, transfer, exchange, foreclosure, purchase, etc.; and to own, lease out, convey, demolish, relocate, or rehabilitate real or personal property. The bill is part of a legislative package comprised of House Bills 4480 to 4484, and House Bill 4488.
Referred to the Committee on Land Use and Environment
Reported without amendment
With the recommendation that the substitute (H-3) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one recommended by the committee which reported it. The substitute incorporates technical changes resulting from committee testimony and deliberation. These changes do not affect the substance of the bill as previously described.
The substitute passed by voice vote
Passed in the House 107 to 0 (details)
To authorize the establishment of a Michigan Land Bank Fast Track Authority, and authorize county and municipal land banks in Detroit and certain other multi-jurisdictional districts, which would have the powerto assemble and dispose of tax reverted property. All property, income, and operations of a land bank would be exempt from taxation by the state or other government entity. An authority could assemble or dispose of tax reverted property in a coordinated manner, and establish procedures to acquire and gain clear title to the tax reverted properties. It would be granted extensive powers to acquire real or personal property by gift, devise, transfer, exchange, foreclosure, purchase, etc.; and to own, lease out, convey, demolish, relocate, or rehabilitate real or personal property. The bill is part of a legislative package comprised of House Bills 4480 to 4484, and House Bill 4488.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one which incorporates technical changes that do not affect the substance of the bill as previously described.
The substitute passed by voice vote
Passed in the Senate 35 to 0 (details)
To authorize the establishment of a Michigan Land Bank Fast Track Authority, and of county and municipal land banks in Detroit and certain other multi-jurisdictional districts, which would have the power to assemble and dispose of tax reverted property. All property, income, and operations of a land bank would be exempt from taxation by the state or other government entity. An authority could assemble or dispose of tax reverted property in a coordinated manner, and establish procedures to acquire and gain clear title to the tax reverted properties. It would be granted extensive powers to acquire real or personal property by gift, devise, transfer, exchange, foreclosure, purchase, etc.; and to own, lease out, convey, demolish, relocate, or rehabilitate real or personal property. The bill is part of a legislative package comprised of House Bills 4480 to 4484, and House Bill 4488.
Passed in the House 108 to 0 (details)
To concur with the Senate-passed version of the bill.
