An act to amend 1996 PA 381, entitled “An act to authorize municipalities to create a brownfield redevelopment authority to facilitate the implementation of brownfield plans; to create brownfield redevelopment zones; to promote the revitalization, redevelopment, and reuse of certain property, including, but not limited to, previously developed, tax reverted, blighted, or functionally obsolete property; to promote the utilization of certain property for housing development; to prescribe the powers and duties of brownfield redevelopment authorities; to permit the issuance of bonds and other evidences of indebtedness by an authority; to authorize the acquisition and disposal of certain property; to authorize certain funds; to prescribe certain powers and duties of certain state officers and agencies; and to authorize and permit the use of certain tax increment financing,” by amending sections 2, 13c, 14a, and 16 (MCL 125.2652, 125.2663c, 125.2664a, and 125.2666), as amended by 2023 PA 90, and by adding sections 16a and 16b.
Senate Bill No. 723 significantly expands funding, oversight, and flexibility for Michigan's brownfield redevelopment program, raising financial caps, extending deadlines, and enhancing accountability and reporting requirements to better support large-scale economic development and community revitalization projects.
Introduced
by
Referred to the Committee on Appropriations
Reported with substitute S-1
Referred to the Committee of the Whole
Reported with substitute S-6
Substitute S-6 concurred in by voice vote
1. Amend page 58, line 20, after “fund” by striking out “may” and inserting “shall”.
2. Amend page 58, line 25, after “is” by striking out “in bankruptcy, foreclosure, or otherwise insolvent” and inserting “owned by a bankruptcy environmental response trust”.
The amendment passed by voice vote
1. Amend page 37, line 4, after “plan.” by striking out “If a transformational brownfield plan receives
more money than allowed under this act or the transformational brownfield plan, the excess must be
returned to this state and deposited in the state brownfield redevelopment fund.” and inserting “A
transformational brownfield plan shall include a profit sharing agreement for any net profits above
the amount in the approved transformational brownfield plan.”.
The amendment passed by voice vote
Passed in the Senate 20 to 13 (details)
Referred to the Committee on Economic Competitiveness
Discharged from committee
Substitute H-1 offered
by
The substitute passed by voice vote
Passed in the House 82 to 26 (details)
Motion to give immediate effect
by
The motion prevailed by voice vote
Substitute H-1 concurred in 24 to 12 (details)
Motion to give immediate effect
by
The motion prevailed by voice vote
