Michigan Compiled Laws
Chapter 123 - Local Government
Act 86 of 2014 - Local Community Stabilization Authority Act (123.1341 - 123.1362)

Section 123.1341 - Short Title. - Sec. 1. This act shall be known and may be...

Section 123.1343 - Legislative Findings; Declarations; Purpose of Act. - Sec. 3. (1) The legislature finds and declares all of...

Section 123.1345 - Definitions. - Sec. 5. As used in this act: (a) "Acquisition cost"...

Section 123.1347 - Local Community Stabilization Authority; Establishment; Public Body Corporate and Special Authority; Property of Authority as Public Property; Exemption From Taxes and Special Assessments; Presumption of Validity; Jurisdiction. - Sec. 7. (1) The local community stabilization authority is established...

Section 123.1349 - Authority Council; Establishment as Governing Body; Membership; Appointment; Terms; Vacancy; Chairperson; Oath of Office; Compensation; Reimbursement for Travel and Expenses; Discharge of Duties; Meeting; Election of Officers; Cond... - Sec. 9. (1) The authority council is established as the...

Section 123.1351 - Powers, Duties, Functions, and Responsibilities of Authority. - Sec. 11. (1) The authority may exercise all of the...

Section 123.1352 - Local Community Stabilization Share; Power of Authority to Levy; Limitation; Receipt and Collection by Department; Generated Money as Money of Authority. - Sec. 12. (1) The authority has the exclusive power to...

Section 123.1353 - Report by City and Township Assessor to County Equalization Director; Report by County Equalization Director to Department; Compilation of Municipality's Information; Calculation of Millage Rate and Debt Loss or School Debt Loss; R... - Sec. 13. (1) Not later than June 5, 2014, the...

Section 123.1354 - Municipality Not Local School District, Intermediate School District, or Tax Increment Finance Authority; Municipality That Is County, Township, Village, City, or Authority Providing Essential Services; Duties of Department. - Sec. 14. (1) Not later than November 7, 2017, and...

Section 123.1355 - Municipality That Is Local School District; Duties of Department. - Sec. 15. Not later than November 7, 2017, and each...

Section 123.1356 - Municipality That Is Intermediate School District; Duties of Department. - Sec. 16. Not later than November 7, 2017, and each...

Section 123.1356a - Municipality That Is Tax Increment Finance Authority; Calculation of Municipality's Tax Increment Small Taxpayer Loss; Duties of Municipality; Report. - Sec. 16a. (1) Not later than June 15, 2014 and...

Section 123.1356b - Calculation by Municipality That Is Tax Increment Finance Authority; Form and Manner; Extension of Calculation and Reporting Date; Exclusion. - Sec. 16b. (1) Each municipality that is a tax increment...

Section 123.1357 - Appropriation of Funds; Purposes; Distribution to Municipalities; Distribution of Local Community Stabilization Share Revenue; Priority; Payments, Overpayments, and Underpayments; Insufficient Funds; Use of Revenue; Distribution; A... - Sec. 17. (1) The legislature shall appropriate funds for all...

Section 123.1358 - Distributions; Determination by Department; Submission of Information by Municipality; Availability; Municipality Review and Reporting. - Sec. 18. (1) Beginning in fiscal year 2015-2016, and each...

Section 123.1359 - Bonds or Other Obligations; Issuance. - Sec. 19. (1) A local unit of government may issue...

Section 123.1360 - Repealed. 2016, Act 124, Eff. May 19, 2016. - Compiler's Notes: The repealed section pertained to loss replacement from...

Section 123.1361 - Debt Payment. - Sec. 21. (1) If a municipality does not adjust its...

Section 123.1362 - Construction of Act. - Sec. 22. This act shall be construed to effectuate the...