Michigan Compiled Laws
Chapter 125 - Planning, Housing, and Zoning
Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)

Section 125.4103 - Board of Authority Created Under Repealed Statute or Section of Law; Continuation in Office; Duration; Appointment. - Sec. 103. Members of a board of an authority created...

Section 125.4104 - Act as Recodification of Certain Existing Acts. - Sec. 104. As this act is a recodification of certain...

57-2018-2 - Part 2 Downtown Development Authorities (125.4201...125.4230)

Section 125.4201 - Definitions. - Sec. 201. As used in this part: (a) "Advance" means...

Section 125.4201a - Legislative Findings. - Sec. 201a. The legislature finds all of the following: (a)...

Section 125.4202 - Authority; Establishment; Restriction; Public Body Corporate; Powers Generally. - Sec. 202. (1) Except as otherwise provided in this subsection,...

Section 125.4203 - Resolution of Intent to Create and Provide for Operation of Authority; Public Hearing on Proposed Ordinance Creating Authority and Designating Boundaries of Downtown District; Notice; Exemption of Taxes From Capture; Action by Libr... - Sec. 203. (1) When the governing body of a municipality...

Section 125.4203a - Authority of Annexing or Consolidated Municipality; Obligations, Agreements, and Bonds. - Sec. 203a. If a downtown district is part of an...

Section 125.4203b - Ratification and Validation of Ordinance and Actions; Compliance. - Sec. 203b. (1) An ordinance enacted by a municipality that...

Section 125.4203c - Proceedings or Findings; Validity. - Sec. 203c. The validity of the proceedings or findings establishing...

Section 125.4203d - Establishment or Amendment of Authority, District, or Plan; Notice; Publication or Posting. - Sec. 203d. An ordinance enacted by a municipality that has...

Section 125.4204 - Board; Appointment, Terms, and Qualifications of Members; Vacancy; Compensation and Expenses; Election of Chairperson; Appointment as Public Official; Oath; Conducting Business at Public Meeting; Public Notice; Special Meetings; Re... - Sec. 204. (1) Except as provided in subsections (7), (8),...

Section 125.4205 - Director; Acting Director; Treasurer; Secretary; Legal Counsel; Other Personnel. - Sec. 205. (1) The board may employ and fix the...

Section 125.4206 - Participation of Employees in Municipal Retirement and Insurance Programs. - Sec. 206. The employees of an authority shall be eligible...

Section 125.4207 - Powers of Board; Creation, Operation, or Funding of Retail Business Incubator. - Sec. 207. (1) The board may: (a) Prepare an analysis...

Section 125.4208 - Board Serving as Planning Commission; Agenda. - Sec. 208. If a board created under this part serves...

Section 125.4209 - Authority as Instrumentality of Political Subdivision. - Sec. 209. The authority shall be deemed an instrumentality of...

Section 125.4210 - Taking, Transfer, and Use of Private Property. - Sec. 210. A municipality may take private property under 1911...

Section 125.4211 - Financing Activities of Authority; Disposition of Money Received by Authority; Municipal Obligations. - Sec. 211. (1) The activities of the authority shall be...

Section 125.4212 - Ad Valorem Tax; Borrowing in Anticipation of Collection. - Sec. 212. (1) An authority with the approval of the...

Section 125.4213 - Revenue Bonds. - Sec. 213. The authority may borrow money and issue its...

Section 125.4213a - Borrowing Money; Issuing Revenue Bonds or Notes; Purpose; Costs; Security; Pledge and Lien of Pledge Valid and Binding; Filing or Recordation Not Required; Tax Exemption; Bonds or Notes Neither Liability nor Debt of Municipality;... - Sec. 213a. (1) The authority may with approval of the...

Section 125.4213b - Insufficient Tax Increment Revenues to Repay Advance or Pay Obligation; Contents, Time, and Payment of Claim; Appropriation and Distribution of Aggregate Amount; Limitations; Distribution Subject to Lien; Obligation as Debt or Lia... - Sec. 213b. (1) If the amount of tax increment revenues...

Section 125.4213c - Retention and Payment of Taxes Levied Under State Education Tax Act; Conditions; Application by Authority for Approval; Information to Be Included; Approval, Modification, or Denial of Application by Department of Treasury; Approp... - Sec. 213c. (1) If the amount of tax increment revenues...

Section 125.4214 - Tax Increment Financing Plan; Preparation and Contents; Limitation; Public Hearing; Fiscal and Economic Implications; Recommendations; Agreements; Modification of Plan; Catalyst Development Project. - Sec. 214. (1) When the authority determines that it is...

Section 125.4215 - Transmitting and Expending Tax Increments Revenues; Reversion of Surplus Funds; Abolishment of Tax Increment Financing Plan; Conditions. - Sec. 215. (1) The municipal and county treasurers shall transmit...

Section 125.4216 - General Obligation Bonds and Tax Increment Bonds; Qualified Refunding Obligation. - Sec. 216. (1) The municipality may by resolution of its...

Section 125.4217 - Development Plan; Preparation; Contents. - Sec. 217. (1) When a board decides to finance a...

Section 125.4218 - Ordinance Approving or Amending Development Plan or Tax Increment Financing Plan; Public Hearing; Notice; Record. - Sec. 218. (1) The governing body, before adoption of an...

Section 125.4219 - Development Plan or Tax Increment Financing Plan as Constituting Public Purpose; Determination; Ordinance; Considerations; Amendments; Incorporation of Catalyst Development Project Plan. - Sec. 219. (1) The governing body after a public hearing...

Section 125.4220 - Notice to Vacate. - Sec. 220. A person to be relocated under this part...

Section 125.4221 - Development Area Citizens Council; Establishment; Appointment and Qualifications of Members; Representative of Development Area. - Sec. 221. (1) If a proposed development area has residing...

Section 125.4222 - Development Area Citizens Council; Advisory Body. - Sec. 222. A development area citizens council established pursuant to...

Section 125.4223 - Consultation. - Sec. 223. Periodically a representative of the authority responsible for...

Section 125.4224 - Development Area Citizens Council; Meetings; Notice; Record; Information and Technical Assistance; Failure to Organize, Consult, or Advise. - Sec. 224. (1) Meetings of the development area citizens council...

Section 125.4225 - Citizens District Council as Development Area Citizens Council. - Sec. 225. In a development area where a citizens district...

Section 125.4226 - Notice of Findings and Recommendations. - Sec. 226. Within 20 days after the public hearing on...

Section 125.4227 - Development Area Citizens Council; Dissolution. - Sec. 227. A development area citizens council may not be...

Section 125.4228 - Budget; Cost of Handling and Auditing Funds. - Sec. 228. (1) The director of the authority shall prepare...

Section 125.4228a - Exemption. - Sec. 228a. Beginning January 1, 2010, the authority shall be...

Section 125.4229 - Historic Sites. - Sec. 229. (1) A public facility, building, or structure that...

Section 125.4230 - Dissolution of Authority; Disposition of Property and Assets; Reinstatement of Authority; Contesting Validity of Proceedings, Findings, and Determinations. - Sec. 230. (1) An authority that has completed the purposes...

57-2018-3 - Part 3 Tax Increment Finance Authorities (125.4301...125.4329)

Section 125.4301 - Definitions. - Sec. 301. As used in this part: (a) "Advance" means...

Section 125.4301a - Short Title of Part. - Sec. 301a. This part shall be known and may be...

Section 125.4302 - Authority; Establishment; Public Body Corporate; Powers Generally. - Sec. 302. (1) A municipality may establish not more than...

Section 125.4303 - Resolution of Intent to Create and Provide Operation of Authority; Determinations; Notice of Public Hearing; Adoption, Filing, and Publication of Resolution Establishing Authority and Designating Boundaries of Authority District; A... - Sec. 303. (1) If the governing body of a municipality...

Section 125.4304 - Board; Composition; Chairperson; Oath of Member; Rules Governing Procedure and Meetings; Meetings Open to Public; Removal of Member; Publicizing Expense Items; Financial Records Open to Public. - Sec. 304. (1) The authority shall be under the supervision...

Section 125.4305 - Board; Employment, Compensation, Term, Oath, and Bond of Director; Chief Executive Office; Duties of Director; Absence or Disability of Director; Reports; Employment, Compensation, and Duties of Treasurer and Secretary; Retention a... - Sec. 305. (1) The board may employ and fix the...

Section 125.4307 - Board; Powers Generally. - Sec. 307. The board may: (a) Prepare an analysis of...

Section 125.4308 - Board Serving as Planning Commission; Agenda. - Sec. 308. If a board created under this part serves...

Section 125.4309 - Authority as Instrumentality of Political Subdivision. - Sec. 309. The authority shall be considered an instrumentality of...

Section 125.4310 - Taking, Transfer, and Use of Private Property by Municipality. - Sec. 310. A municipality may take private property under 1980...

Section 125.4311 - Financing Activities of Authority; Sources. - Sec. 311. The activities of the authority shall be financed...

Section 125.4312 - Borrowing Money; Issuing Negotiable Revenue Bonds; Full Faith and Credit. - Sec. 312. (1) The authority may borrow money and issue...

Section 125.4312a - Insufficient Tax Increment Revenues for Repayment of Advance or Payment of Obligation; Appropriation and Distribution to Authority; Filing, Time, and Contents of Claim; Distribution of Amounts in 2 Equal Payments; Appropriation an... - Sec. 312a. (1) If the amount of tax increment revenues...

Section 125.4312b - Retention and Payment of Taxes Levied Under State Education Tax Act; Conditions; Application by Authority for Approval; Information to Be Included; Approval, Modification, or Denial of Application by Department of Treasury; Approp... - Sec. 312b. (1) If the amount of tax increment revenues...

Section 125.4313 - Preparation and Submission of Tax Increment Financing Plan; Contents and Approval of Plan; Public Hearing; Taxing Jurisdictions. - Sec. 313. (1) When the authority determines that it is...

Section 125.4314 - Transmitting and Expending Tax Increment Revenues; Disposition of Surplus Funds; Abolition of Tax Increment Financing Plan. - Sec. 314. (1) The municipal and county treasurers shall transmit...

Section 125.4315 - Tax Increment Bonds; Qualified Refunding Obligation. - Sec. 315. (1) By resolution of its board, the authority...

Section 125.4316 - Development Plan; Preparation; Contents. - Sec. 316. (1) When a board decides to finance a...

Section 125.4317 - Public Hearing on Development Plan; Publication, Mailing, and Contents of Notice; Presentation of Data; Record. - Sec. 317. (1) The governing body, before adoption of a...

Section 125.4318 - Development Plan or Tax Increment Plan as Public Purpose; Determination; Approval or Rejection of Plan; Notice and Hearing; Conclusiveness of Procedure, Adequacy of Notice, and Certain Findings; Validation and Conclusiveness of Pla... - Sec. 318. (1) The governing body, after a public hearing...

Section 125.4319 - Notice to Vacate. - Sec. 319. A person to be relocated under this part...

Section 125.4320 - Development Area Citizens Council; Establishment; Advisory Body; Appointment and Qualifications of Members. - Sec. 320. (1) A development area citizens council shall be...

Section 125.4321 - Consultation Representative of Authority and Council. - Sec. 321. Periodically a representative of the authority responsible for...

Section 125.4322 - Meetings of Council; Open to Public; Notice; Hearing Persons Present at Meeting; Record; Information and Technical Assistance; Failures Not Precluding Adoption of Development Plan. - Sec. 322. (1) Meetings of the council shall be open...

Section 125.4323 - Development or Tax Increment Financing Plan; Notice of Findings and Recommendations. - Sec. 323. Within 20 days after the public hearing on...

Section 125.4324 - Development Area Citizens Council; Dissolution. - Sec. 324. A development area citizens council may not be...

Section 125.4325 - Budget; Cost of Handling and Auditing Funds. - Sec. 325. (1) The director of the authority shall prepare...

Section 125.4326 - Preservation of Public Facility, Building, or Structure Having Significant Historical Interest; Review of Proposed Changes to Exterior of Historic Site. - Sec. 326. (1) A public facility, building, or structure which...

Section 125.4327 - Dissolution of Authority; Resolution; Disposition of Property and Assets. - Sec. 327. An authority which has completed the purposes for...

Section 125.4328 - Authority District Part of Area Annexed to or Consolidated With Another Municipality; Authority of Annexing or Consolidated Municipality; Effect of Obligations, Agreements, and Bonds. - Sec. 328. Notwithstanding the limitation provided by section 302(1) on...

Section 125.4329 - New Authority or Authority District and Boundaries of Authority District; Prohibitions; Validity of Tax Increment Finance Authority, Authority District, Development Area, Development Plan, or Tax Increment Financing Plan Establishe... - Sec. 329. (1) Beginning January 1, 1987, a new authority...

57-2018-4 - Part 4 Local Development Finance Authorities (125.4401...125.4420)

Section 125.4401 - Legislative Findings; Short Title of Part. - Sec. 401. (1) The legislature finds all of the following:...

Section 125.4402 - Definitions. - Sec. 402. As used in this part: (a) "Advance" means...

Section 125.4403 - Authority; Establishment by Municipality; Establishment by Next Michigan Development Corporation; Limitation; Powers. - Sec. 403. (1) Except as otherwise provided by subsection (2),...

Section 125.4404 - Resolution of Intent to Create and Provide for Operation of Authority; Notice of Public Hearing; Hearing; Resolution Exempting Taxes From Capture; Action of Library Board or Commission; Resolution Establishing Authority and Designa... - Sec. 404. (1) The governing body of a municipality may...

Section 125.4405 - Board; Appointment, Qualification, and Terms of Members; Vacancy; Reimbursement for Expenses; Chairperson; Oath of Office; Rules; Procedure; Meetings; Removal of Member; Publicizing Expense Items; Financial Records Open to Public;... - Sec. 405. (1) The authority shall be under the supervision...

Section 125.4406 - Director; Employment; Compensation; Oath of Office; Bond; Chief Executive Officer; Duties; Acting Director; Appointment or Employment, Compensation, and Duties of Treasurer; Appointment or Employment, Compensation, and Duties of Se... - Sec. 406. (1) The board may employ and fix the...

Section 125.4407 - Powers of Board Generally. - Sec. 407. The board may: (a) Study and analyze unemployment,...

Section 125.4408 - Authority as Instrumentality of Political Subdivision. - Sec. 408. The authority shall be considered an instrumentality of...

Section 125.4409 - Taking, Transfer, and Use of Private Property. - Sec. 409. A municipality may take private property under the...

Section 125.4410 - Financing Activities of Authority. - Sec. 410. The activities of the authority shall be financed...

Section 125.4411 - Revenue Bonds. - Sec. 411. (1) The authority may borrow money and issue...

Section 125.4411a - Insufficient Tax Increment Revenues for Repayment of Advance or Payment of Obligation; Appropriation; Filing Claim; Information Required in Claim; Distributions; Determination of Amounts; Limitations; Distribution Subject to Lien;... - Sec. 411a. (1) If the amount of tax increment revenues...

Section 125.4411b - Retention and Payment of Taxes Levied Under State Education Tax Act; Conditions; Application by Authority for Approval; Information to Be Included; Approval, Modification, or Denial of Application by Department of Treasury; Approp... - Sec. 411b. (1) If the amount of tax increment revenues...

Section 125.4412 - Tax Increment Financing Plan. - Sec. 412. (1) If the board determines that it is...

Section 125.4412a - Designation as Certified Technology Park; Application to Michigan Economic Development Corporation; Agreement; Determination of Sale Price or Rental Value for Public Facilities; Inclusion of Legal and Equitable Remedies and Rights... - Sec. 412a. (1) A municipality that has created an authority...

Section 125.4412b - Creation of Authority in Which Certified Technology Park Designated; Agreement With Another Authority; Designation of Distinct Geographic Area; Consideration of Advantages and Benefits; Capture of Amounts Levied by State and Local... - Sec. 412b. (1) A municipality that has created an authority...

Section 125.4412c - Designation as Certified Alternative Energy Park; Application; Criteria; Agreement; Determination of Sale Price or Rental Value for Public Facilities; Inclusion of Legal and Equitable Remedies and Rights; Limitations; Pledge to Su... - Sec. 412c. (1) A municipality that has created an authority...

Section 125.4412d - Conveyance or Lease of Public Facilities at Less Than Fair Market Value or Below Market Rates. - Sec. 412d. (1) If an authority determines that a sale...

Section 125.4412e - Notice of Designation of Next Michigan Development Area; Marketing of Authority District by Michigan Economic Development Corporation; Pledge to Support Tax Increment Bonds. - Sec. 412e. (1) A Next Michigan development corporation establishing an...

Section 125.4413 - Tax Increment Revenues Transmitted to Authority; Expenditure of Tax Increment Revenues; Retention or Reversion of Excess Revenue; Prohibition; Abolition of Tax Increment Financing Plan. - Sec. 413. (1) The city, village, township, school district, and...

Section 125.4414 - Tax Increment Bonds; Qualified Refunding Obligation. - Sec. 414. (1) By resolution of its board and subject...

Section 125.4415 - Development Plan Generally. - Sec. 415. (1) If a board decides to finance a...

Section 125.4416 - Adoption of Resolution Approving Development Plan or Tax Increment Financing Plan; Public Hearing; Notice; Record. - Sec. 416. (1) Before adoption of a resolution approving or...

Section 125.4417 - Development Plan or Tax Increment Financing Plan as Constituting Public Purpose; Approval or Rejection; Considerations; Amendments; Procedure, Notice, Findings, and Amendment as Conclusive; Contest. - Sec. 417. (1) After a public hearing on the development...

Section 125.4418 - Relocation of Person; Notice to Vacate. - Sec. 418. A person to be relocated under this part...

Section 125.4419 - Preparation and Submission of Budget; Manner; Approval; Cost of Handling and Auditing Funds. - Sec. 419. (1) The director of the authority shall prepare...

Section 125.4420 - Dissolution of Authority; Resolution; Disposition of Property and Assets. - Sec. 420. An authority that completes the purposes for which...

57-2018-5 - Part 5 Nonprofit Street Railways (125.4503...125.4527)

Section 125.4503 - Legislative Intent. - Sec. 503. The legislature finds and declares that there exists...

Section 125.4505 - Construction of Act. - Sec. 505. (1) This part shall be construed liberally to...

Section 125.4507 - Definitions. - Sec. 507. As used in this part: (a) "Department" means...

Section 125.4509 - Street Railway; Organization; Articles of Incorporation; Filing; Applicability of the Nonprofit Corporation Act. - Sec. 509. (1) After January 12, 2009, 1 or more...

Section 125.4511 - Nonprofit Corporation as Street Railway; Amendment of Articles of Incorporation Required; Provisions; Adoption; Filing; Applicability of the Nonprofit Corporation Act. - Sec. 511. (1) A nonprofit corporation may become a street...

Section 125.4513 - Acquiring, Constructing, Operating, and Maintaining Street Railway System on Highways of Road Authority; Approval; Terms and Conditions; Operating License Agreement; Public Hearing; Decision as Final and Binding; Costs; Condition;... - Sec. 513. (1) A street railway may acquire, own, construct,...

Section 125.4515 - Use or Consumption of Electricity and Electric Power by Street Railway and Street Railway System; Relocation and Modification of Public Utility Facilities; Sound Utility Practice; Costs; Agreement; Exemption From Taxation; Enforcem... - Sec. 515. (1) Subject to applicable law and applicable regulations...

Section 125.4517 - Street or Highway Grades; Conformance by Company; Alteration or Change; Consent Required; Manner of Laying and Maintaining Track. - Sec. 517. (1) In constructing a street railway system, a...

Section 125.4519 - Rules and Regulations; Establishment by Road Authority. - Sec. 519. A road authority may establish and prescribe rules...

Section 125.4521 - Refusal of Person to Pay Fare or Obey Regulations; Removal of Person; Placement of Impediment Upon Track as Felony; Throwing Stone, Brick, or Other Missile as Misdemeanor. - Sec. 521. (1) If a person refuses to pay a...

Section 125.4523 - Transit Operations Finance Zone. - Sec. 523. (1) At the request of a street railway,...

Section 125.4527 - Transfer of Records to Bureau of Commercial Services; Organization of Entity; Street Railway Not Subject to Railroad Code of 1993. - Sec. 527. (1) Within 30 days of January 12, 2009,...

57-2018-6 - Part 6 Corridor Improvement Authorities (125.4602...125.4629)

Section 125.4602 - Definitions; a to M. - Sec. 602. As used in this part: (a) "Advance" means...

Section 125.4603 - Definitions. - Sec. 603. As used in this part: (a) "Operations" means...

Section 125.4604 - Multiple Authorities; Establishment; Public Body Corporate; Powers. - Sec. 604. (1) Except as otherwise provided in this subsection,...

Section 125.4605 - Development Area; Establishment in Municipality; Exception; Criteria; Compliance. - Sec. 605. A development area shall only be established in...

Section 125.4606 - Creation of Authority; Resolution by Governing Body; Notice of Public Hearing; Adoption of Resolution Designating Boundaries; Alteration or Amendment; Interlocal Agreement. - Sec. 606. (1) If the governing body of a municipality...

Section 125.4607 - Annexation or Consolidation; Effect. - Sec. 607. If a development area is part of an...

Section 125.4608 - Authority Under Supervision and Control of Board; Membership; Appointment; Terms; Vacancy; Expenses; Chairperson; Oath; Proceedings and Rules Subject to Open Meetings Act; Removal of Board Member; Financial Records; Writings Subjec... - Sec. 608. (1) Except as provided in subsection (7) or...

Section 125.4609 - Director, Treasurer, Secretary, Legal Counsel, Other Personnel; Compensation; Duties. - Sec. 609. (1) The board may employ and fix the...

Section 125.4610 - Retirement and Insurance Programs. - Sec. 610. The employees of an authority shall be eligible...

Section 125.4611 - Board; Powers. - Sec. 611. (1) The board may do any of the...

Section 125.4612 - Authority as Instrument of Political Subdivision. - Sec. 612. The authority is an instrumentality of a political...

Section 125.4613 - Acquisition of Private Property; Transfer to Authority; Use. - Sec. 613. A municipality may acquire private property under 1911...

Section 125.4614 - Financing Sources; Disposition. - Sec. 614. (1) The activities of the authority shall be...

Section 125.4615 - Special Assessment; Levy; Borrowing Money and Issuing Notes. - Sec. 615. (1) An authority with the approval of the...

Section 125.4616 - Revenue Bonds. - Sec. 616. The authority may, with approval of the local...

Section 125.4617 - Acquisition or Construction of Property; Financing; Bonds or Notes. - Sec. 617. (1) The authority may with approval of the...

Section 125.4618 - Tax Increment Financing Plan. - Sec. 618. (1) If the authority determines that it is...

Section 125.4619 - Tax Increment Revenues; Transmission; Expenditures; Use. - Sec. 619. (1) The municipal and county treasurers shall transmit...

Section 125.4620 - Financing Development Program of Tax Increment Financing Plan; Authorization, Issuance, and Sale of General Obligation Bonds; Estimate of Anticipated Tax Increment Revenues; Resolution; Security; Lien. - Sec. 620. (1) The municipality may by resolution of its...

Section 125.4621 - Development Plan; Preparation; Contents. - Sec. 621. (1) If a board decides to finance a...

Section 125.4622 - Development Plan; Public Hearing; Notice; Contents; Opportunity to Speak; Hearing Record. - Sec. 622. (1) The governing body, before adoption of a...

Section 125.4623 - Approval, Rejection, or Approval With Modification; Considerations. - Sec. 623. The governing body after a public hearing on...

Section 125.4624 - Notice to Vacate. - Sec. 624. A person to be relocated under this part...

Section 125.4625 - Budget; Submission to Board; Preparation; Approval; Adoption; Cost of Handling and Auditing Funds. - Sec. 625. (1) The director of the authority shall submit...

Section 125.4626 - Preservation of Historical Sites. - Sec. 626. (1) A public facility, building, or structure that...

Section 125.4627 - Dissolution. - Sec. 627. An authority that has completed the purposes for...

Section 125.4629 - Tax Increment Revenues; Definition; Condition. - Sec. 629. (1) Subject to the requirements of subsection (2),...

57-2018-7 - Part 7 Water Resource Improvement Authorities (125.4702...125.4722)

Section 125.4702 - Definitions; a to M. - Sec. 702. As used in this part: (a) "Advance" means...

Section 125.4703 - Definitions; O to W. - Sec. 703. As used in this part: (a) "Operations" means...

Section 125.4704 - Establishment of Multiple Authorities; Powers. - Sec. 704. (1) Except as otherwise provided in this subsection,...

Section 125.4705 - Intent to Create and Provide for Operation of Authority Within Water Resource Improvement District; Resolution of Intent; Notice of Public Hearing; Adoption of Ordinance; Filing; Publication; Alteration or Amendment of Boundaries;... - Sec. 705. (1) If the governing body of a municipality...

Section 125.4706 - Annexation or Consolidation. - Sec. 706. If a development area is part of an...

Section 125.4707 - Board; Membership; Qualifications; Terms; Appointment to Fill Vacancy; Compensation; Oath of Office; Proceedings and Rules Subject to Open Meetings Act; Meetings; Removal of Board Member; Publication of Expense Items; Availability... - Sec. 707. (1) An authority shall be under the supervision...

Section 125.4708 - Director; Compensation; Service; Oath; Bond; Duties; Acting Director; Treasurer; Secretary; Legal Counsel; Duties; Other Personnel. - Sec. 708. (1) The board may employ and fix the...

Section 125.4709 - Participation of Employees in Municipal Retirement and Insurance Programs; Employees Not Civil Service Employees. - Sec. 709. The employees of an authority shall be eligible...

Section 125.4710 - Board; Powers; Duties; Preparation of Water Resource Management Plan; Consultation With Certain Entities; Application for State and Federal Permits. - Sec. 710. (1) The board may do any of the...

Section 125.4711 - Authority as Instrumentality of Political Subdivision. - Sec. 711. The authority is an instrumentality of a political...

Section 125.4712 - Financing Sources; Disposition of Money Received. - Sec. 712. (1) The activities of the authority shall be...

Section 125.4713 - Borrowing Money and Issuing Bonds. - Sec. 713. The authority may borrow money and issue its...

Section 125.4714 - Borrowing Money and Issuing Bonds or Notes; Security; Pledge; Lien; Exemption of Bonds or Notes From Taxation; Municipality Not Liable on Bonds and Notes of Authority; Statement; Investment; Deposit. - Sec. 714. (1) The authority may with approval of the...

Section 125.4715 - Tax Increment Financing Plan; Preparation and Submission; Development Plan; Statement of Estimated Impact; Approval; Notice, Hearing, and Disclosure Provisions; Modification; Exempting Taxes From Capture; Resolution; Action of Libr... - Sec. 715. (1) If the authority determines that it is...

Section 125.4716 - Transmission of Tax Increment Revenues to Authority; Expenditures; Terms; Reversion of Unused Funds; Abolishment of Plan; Conditions. - Sec. 716. (1) The municipal and county treasurers shall transmit...

Section 125.4717 - Authorization, Issuance, and Sale of Tax Increment Bonds. - Sec. 717. (1) By resolution of its governing body, the...

Section 125.4718 - Development Plan; Contents. - Sec. 718. (1) If a board decides to finance a...

Section 125.4719 - Development Plan or Tax Increment Financing Plan; Adoption of Ordinance; Notice of Public Hearing; Purpose of Public Hearing. - Sec. 719. (1) The governing body, before adoption of an...

Section 125.4720 - Determination of Public Purpose; Approval or Rejection of Plan; Modification; Considerations. - Sec. 720. The governing body after a public hearing on...

Section 125.4721 - Operation of Authority; Budget; Review by Board; Submission to Governing Body; Adoption; Cost of Handling and Auditing Funds. - Sec. 721. (1) The director of the authority shall submit...

Section 125.4722 - Dissolution of Authority. - Sec. 722. An authority that has completed the purposes for...

57-2018-8 - Part 8 Neighborhood Improvement Authorities (125.4802...125.4821)

Section 125.4802 - Definitions; a to M. - Sec. 802. As used in this part: (a) "Advance" means...

Section 125.4803 - Definitions; O to T. - Sec. 803. As used in this part: (a) "Operations" means...

Section 125.4804 - Multiple Authorities; Establishment; Authority as Public Body Corporate. - Sec. 804. (1) Except as otherwise provided in this subsection,...

Section 125.4805 - Operation of Authority; Resolution of Intent; Public Hearing; Notice; Adoption of Ordinance Establishing Authority; Filing; Alteration or Amendment of Boundaries; Exclusions; Duration. - Sec. 805. (1) If the governing body of a municipality...

Section 125.4806 - Annexation or Consolidation With Another Municipality. - Sec. 806. If a development area is part of an...

Section 125.4807 - Board; Chief Executive Officer; Membership; Appointment; Terms; Vacancy; Oath; Open Meetings; Removal of Member; Financial Records; Writings Subject to Freedom of Information Act. - Sec. 807. (1) An authority shall be under the supervision...

Section 125.4808 - Director; Compensation; Service; Eligibility; Oath; Posting of Bond; Director as Chief Executive Officer; Duties of Director; Acting Director; Treasurer; Secretary; Retention of Legal Counsel; Other Personnel. - Sec. 808. (1) The board may employ and fix the...

Section 125.4809 - Municipal Retirement and Insurance Programs; Participation. - Sec. 809. The employees of an authority shall be eligible...

Section 125.4810 - Powers of Board. - Sec. 810. The board may do any of the following:...

Section 125.4811 - Financing Sources; Disposition of Money Received. - Sec. 811. (1) The activities of the authority shall be...

Section 125.4812 - Borrowing Money and Issuing Negotiable Revenue Bonds. - Sec. 812. The authority may borrow money and issue its...

Section 125.4813 - Acquisition or Construction of Property; Borrowing Money and Issuing Revenue Bonds; Other Financing; Securing Bonds and Notes; Pledge; Exemption From Taxation; Exceptions; Liability; Investments. - Sec. 813. (1) The authority may with approval of the...

Section 125.4814 - Tax Increment Financing Plan; Preparation and Submission; Contents; Hearing and Approval Procedure; Agreement With Taxing Jurisdiction; Modification; Exemption From Tax; Separate Millage for Public Library Purposes; Resolution. - Sec. 814. (1) If the authority determines that it is...

Section 125.4815 - Tax Increment Revenues; Transmission to Authority; Expenditures. - Sec. 815. (1) The municipal and county treasurers shall transmit...

Section 125.4816 - Authorization, Issuance, and Sale of Tax Increment Bonds; Limitations; Pledge; Resolution to Create Lien on Revenues; Limited Tax Pledge. - Sec. 816. (1) By resolution of its governing body, the...

Section 125.4817 - Development Plan; Contents. - Sec. 817. (1) If a board decides to finance a...

Section 125.4818 - Development Plan; Public Hearing; Notice; Opportunity to Speak and Provide Written Comment. - Sec. 818. (1) The governing body, before adoption of an...

Section 125.4819 - Development Plan or Tax Increment Financing Plan as Public Purpose; Consideration for Approval, Rejection, or Modification. - Sec. 819. The governing body after a public hearing on...

Section 125.4820 - Budget; Submission; Approval; Cost of Handling and Auditing Funds. - Sec. 820. (1) The director of the authority shall submit...

Section 125.4821 - Dissolution of Authority; Property and Assets. - Sec. 821. An authority that has completed the purposes for...

57-2018-9 - Part 9 Reporting Requirements (125.4901...125.4915)

Section 125.4901 - Definitions. - Sec. 901. As used in this part: (a) "Authority" means...

Section 125.4910 - Website; Requirements. - Sec. 910. (1) Subject to subsection (5), each municipality that...

Section 125.4911 - Capture of Tax Increment Revenues; Report by Authority; Contents; Filing; Compilation by Department of Treasury; Submission to Legislature; Consultation With Professional Organizations. - Sec. 911. (1) Annually, on a form and in the...

Section 125.4912 - Copy or Electronic Mail Link of Adopted Development Plan or Tax Increment Finance Plan. - Sec. 912. Within 90 days of the effective date of...

Section 125.4915 - Enforcement of Act. - Sec. 915. (1) The department of treasury may institute proceedings...

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Michigan Compiled Laws Chapter 125 - Planning, Housing, and Zoning Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)

Michigan Compiled Laws
Chapter 125 - Planning, Housing, and Zoning
Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)