Introduced
by
To increase from 5 percent to 9 percent the cap on interest that can be charged by a township improvement revolving fund. These funds may be created by townships, funded by general township taxes, to provide a kind of “interim financing” for improvements that a special assessment tax has been approved for, but before the extra revenue from that tax increase begins to come in.
Referred to the Committee on Intergovernmental, Urban, and Regional Affairs
