A bill to amend 1996 PA 381, entitled “Brownfield redevelopment financing act,” by amending sections 2, 8a, 13c, 14a, and 16 (MCL 125.2652, 125.2658a, 125.2663c, 125.2664a, and 125.2666), as amended by 2023 PA 90, and by adding sections 16a, 16b, and 16c.
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
