Bill Text: MI HB4159 | 2019-2020 | 100th Legislature | Introduced
Bill Title: Economic development: brownfield redevelopment authority; brownfield redevelopment authorities; provide oversight. Amends secs. 2, 8, 13, 13b, 15 & 16 of 1996 PA 381 (MCL 125.2652 et seq.).
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2020-12-31 - Assigned Pa 259'20 With Immediate Effect [HB4159 Detail]
Download: Michigan-2019-HB4159-Introduced.html
HOUSE BILL No. 4159
February 6, 2019, Introduced by Rep. Iden and referred to the Committee on Local Government and Municipal Finance.
A bill to amend 1996 PA 381, entitled
"Brownfield redevelopment financing act,"
by amending sections 2, 8, 13, 13b, and 16 (MCL 125.2652, 125.2658,
125.2663, 125.2663b, and 125.2666), section 2 as amended by 2018 PA
203, section 8 as amended by 2016 PA 471, and sections 13, 13b, and
16 as amended by 2017 PA 46.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 2. As used in this act:
(a) "Authority" means a brownfield redevelopment authority
created under this act.
(b) "Baseline environmental assessment" means that term as
defined in part 201 or 213.
(c) "Blighted" means property that meets any of the following
criteria as determined by the governing body:
(i) Has been declared a public nuisance in accordance with a
local housing, building, plumbing, fire, or other related code or
ordinance.
(ii) Is an attractive nuisance to children because of physical
condition, use, or occupancy.
(iii) Is a fire hazard or is otherwise dangerous to the safety
of persons or property.
(iv) Has had the utilities, plumbing, heating, or sewerage
permanently disconnected, destroyed, removed, or rendered
ineffective so that the property is unfit for its intended use.
(v) Is tax reverted property owned by a qualified local
governmental unit, by a county, or by this state. The sale, lease,
or transfer of tax reverted property by a qualified local
governmental unit, county, or this state after the property's
inclusion in a brownfield plan shall not result in the loss to the
property of the status as blighted property for purposes of this
act.
(vi) Is property owned by or under the control of a land bank
fast track authority, whether or not located within a qualified
local governmental unit. Property included within a brownfield plan
prior to the date it meets the requirements of this subdivision to
be eligible property shall be considered to become eligible
property as of the date the property is determined to have been or
becomes qualified as, or is combined with, other eligible property.
The sale, lease, or transfer of the property by a land bank fast
track authority after the property's inclusion in a brownfield plan
shall not result in the loss to the property of the status as
blighted property for purposes of this act.
(vii) Has substantial buried subsurface demolition debris
present so that the property is unfit for its intended use.
(d) "Board" means the governing body of an authority.
(e) "Brownfield plan" means a plan that meets the requirements
of section 13 and section 13b and is adopted under section 14.
(f) "Captured taxable value" means the amount in 1 year by
which the current taxable value of an eligible property subject to
a brownfield plan, including the taxable value or assessed value,
as appropriate, of the property for which specific taxes are paid
in lieu of property taxes, exceeds the initial taxable value of
that eligible property. The state tax commission shall prescribe
the method for calculating captured taxable value.
(g) "Chief executive officer" means the mayor of a city, the
village manager of a village, the township supervisor of a
township, or the county executive of a county or, if the county
does not have an elected county executive, the chairperson of the
county board of commissioners.
(h) "Combined brownfield plan" means a brownfield plan that
also includes the information necessary to submit the plan to the
department or Michigan strategic fund under section 15(20).
(i) "Construction period tax capture revenues" means funds
equal to the amount of income tax levied and imposed in a calendar
year upon wages paid to individuals physically present and working
within the eligible property for the construction, renovation, or
other improvement of eligible property that is an eligible activity
within a transformational brownfield plan. As used in this
subdivision, "wages" means that term as defined in section 3401 of
the internal revenue code of 1986, 26 USC 3401. To calculate the
amount of construction period tax capture revenues for a calendar
year under a transformational brownfield plan, the state treasurer
shall do all of the following:
(i) Require the owner or developer of the eligible property to
report the total taxable wages paid to individuals for the
construction, renovation, or other improvement of eligible property
that is an eligible activity within the transformational brownfield
plan. The wages reported under this subparagraph shall exclude any
wages paid to employees of the owner or developer.
(ii) Multiply the amount under subparagraph (i) by the
effective rate as determined by the state treasurer at which the
income tax is levied on an individual in this state. The state
treasurer shall estimate the effective rate by taking into account
the effect of any exemptions, additions, subtractions, and credits
allowable under part 1 of the income tax act of 1967, 1967 PA 281,
MCL 206.1 to 206.532. The state treasurer may require the owner or
developer to submit any information necessary for the calculation
under this subparagraph.
(iii) The wage information and other information required
under this subdivision shall be provided to the department of
treasury by the owner or developer in a manner prescribed by the
state treasurer. The state treasurer may require the owner or
developer to provide a review or reconciliation of the wages by an
independent auditing firm.
(j) "Corrective action" means that term as defined in part 111
or part 213.
(k) "Department" means the department of environmental
quality.
(l) "Department specific activities" means baseline
environmental assessments, due care activities, response
activities, and other environmentally related actions that are
eligible activities and are identified as a part of a brownfield
plan that are in addition to the minimum due care activities
required by part 201, including, but not limited to:
(i) Response activities that are more protective of the public
health, safety, and welfare and the environment than required by
section 20107a, 20114, or 21304c of the natural resources and
environmental protection act, 1994 PA 451, MCL 324.20107a,
324.20114, and 324.21304c.
(ii) Removal and closure of underground storage tanks pursuant
to part 211 or 213.
(iii) Disposal of solid waste, as defined in part 115 of the
natural resources and environmental protection act, 1994 PA 451,
MCL 324.11501 to 324.11554, from the eligible property, provided it
was not generated or accumulated by the authority or the developer.
(iv) Dust control related to construction activities.
(v) Removal and disposal of lake or river sediments exceeding
part 201 criteria from, at, or related to an economic development
project where the upland property is either a facility or would
become a facility as a result of the deposition of dredged spoils.
(vi) Industrial cleaning.
(vii) Sheeting and shoring necessary for the removal of
materials exceeding part 201 criteria at projects requiring a
permit pursuant to part 301, 303, or 325 of the natural resources
and environmental protection act, 1994 PA 451, MCL 324.30101 to
324.30113, MCL 324.30301 to 324.30328, or MCL 324.32501 to
324.32515a.
(viii) Lead, mold, or asbestos abatement when lead, mold, or
asbestos pose an imminent and significant threat to human health.
(ix) Environmental insurance.
(m) "Due care activities" means those response activities
identified as part of a brownfield plan that are necessary to allow
the owner or operator of an eligible property in the plan to comply
with the requirements of section 20107a or 21304c of the natural
resources and environmental protection act, 1994 PA 451, MCL
324.20107a and 324.21304c.
(n) "Economic opportunity zone" means 1 or more parcels of
property that meet all of the following:
(i) That together are 40 or more acres in size.
(ii) That contain or contained a manufacturing operation that
consists or consisted of 500,000 or more square feet.
(iii) That are located in a municipality that has a population
of 30,000 or less and that is contiguous to a qualified local
governmental unit.
(o) "Eligible activities" or "eligible activity" means 1 or
more of the following:
(i) For all eligible properties, eligible activities include
all of the following:
(A) Department specific activities.
(B) Relocation of public buildings or operations for economic
development purposes.
(C) Reasonable costs of environmental insurance.
(D) Reasonable costs incurred to develop and prepare
brownfield plans, combined brownfield plans, or work plans for the
eligible property, including legal and consulting fees that are not
in the ordinary course of acquiring and developing real estate.
(E) Reasonable costs of brownfield plan and work plan
implementation, including, but not limited to, tracking and
reporting of data and plan compliance and the reasonable costs
incurred to estimate and determine actual costs incurred, whether
those costs are incurred by a municipality, authority, or private
developer.
(F) Demolition of structures that is not a response activity,
including removal of manufactured debris comprised of discarded,
unused, or unusable manufactured by-products left on the site by a
previous owner. The removal of the manufactured by-products left on
the site described in this sub-subparagraph is not eligible for
interest reimbursement under sub-subparagraph (H).
(G) Lead, asbestos, or mold abatement.
(H) Except as otherwise provided in sub-subparagraph (F), the
repayment of principal of and interest on any obligation issued by
an authority to pay the costs of eligible activities attributable
to an eligible property.
(ii) For eligible properties located in a qualified local unit
of government, or an economic opportunity zone, or that is a former
mill, eligible activities include:
(A) The activities described in subparagraph (i).
(B) Infrastructure improvements that directly benefit eligible
property.
(C) Site preparation that is not a response activity.
(iii) For eligible properties that are owned by or under the
control of a land bank fast track authority, or a qualified local
unit of government or authority, eligible activities include:
(A) The eligible activities described in subparagraphs (i) and
(ii).
(B) Assistance to a land bank fast track authority in clearing
or quieting title to, or selling or otherwise conveying, property
owned by or under the control of a land bank fast track authority
or the acquisition of property by the land bank fast track
authority if the acquisition of the property is for economic
development purposes.
(C) Assistance to a qualified local governmental unit or
authority in clearing or quieting title to, or selling or otherwise
conveying, property owned by or under the control of a qualified
local governmental unit or authority or the acquisition of property
by a qualified local governmental unit or authority if the
acquisition of the property is for economic development purposes.
(iv) For eligible activities on eligible property that is
included in a transformational brownfield plan, any demolition,
construction, restoration, alteration, renovation, or improvement
of buildings or site improvements on eligible property, including
infrastructure improvements that directly benefit eligible
property.
(p) "Eligible property" means, except as otherwise provided in
this subdivision, property for which eligible activities are
identified under a brownfield plan that was used or is currently
used for commercial, industrial, public, or residential purposes,
including personal property located on the property, to the extent
included in the brownfield plan, and that is 1 or more of the
following:
(i) Is in a qualified local governmental unit and is a
facility or a site or property as those terms are defined in part
213, historic resource, functionally obsolete, or blighted and
includes parcels that are adjacent or contiguous to that property
if the development of the adjacent and contiguous parcels is
estimated to increase the captured taxable value of that property.
(ii) Is not in a qualified local governmental unit and is a
facility, historic resource, functionally obsolete, blighted, or a
site or property as those terms are defined in part 213, and
includes parcels that are adjacent or contiguous to that property
if the development of the adjacent and contiguous parcels is
estimated to increase the captured taxable value of that property.
(iii) Is tax reverted property owned by or under the control
of a land bank fast track authority.
(iv) Is a transit-oriented development or transit-oriented
property.
(v) Is located in a qualified local governmental unit and
contains a targeted redevelopment area.
(vi) Is undeveloped property that was eligible property in a
previously approved brownfield plan abolished under section 14(8).
(vii) Eligible property does not include qualified
agricultural property exempt under section 7ee of the general
property tax act, 1893 PA 206, MCL 211.7ee, from the tax levied by
a local school district for school operating purposes to the extent
provided under section 1211 of the revised school code, 1976 PA
451, MCL 380.1211.
(q) "Environmental insurance" means liability insurance for
environmental contamination and cleanup that is not otherwise
required by state or federal law.
(r) "Facility" means that term as defined in part 201.
(s) "Fiscal year" means the fiscal year of the authority.
(t) "Former mill" means a former mill that has not been used
for industrial purposes for the immediately preceding 2 years, that
is not located in a qualified local governmental unit, that is a
facility or is a site or a property as those terms are defined in
part 213, functionally obsolete, or blighted, and that is located
within 15 miles of a river that is a federal superfund site listed
under the comprehensive environmental response, compensation and
liability act of 1980, 42 USC 9601 to 9675, and that is located in
a municipality with a population of less than 10,000.
(u) "Functionally obsolete" means that the property is unable
to be used to adequately perform the function for which it was
intended due to a substantial loss in value resulting from factors
such as overcapacity, changes in technology, deficiencies or
superadequacies in design, or other similar factors that affect the
property itself or the property's relationship with other
surrounding property.
(v) "Governing body" means the elected body having legislative
powers of a municipality creating an authority under this act.
(w) "Historic resource" means that term as defined in section
90a of the Michigan strategic fund act, 1984 PA 270, MCL 125.2090a.
(x) "Income tax" means the tax levied and imposed under part 1
of the income tax act of 1967, 1967 PA 281, MCL 206.1 to 206.532.
(y) "Income tax capture revenues" means funds equal to the
amount for each tax year by which the aggregate income tax from
individuals domiciled within the eligible property subject to a
transformational brownfield plan exceeds the initial income tax
value. The state treasurer shall calculate annually the income tax
capture revenues associated with each transformational brownfield
plan. In calculating income tax capture revenues, the state
treasurer shall subtract from the aggregate amount of income tax
credits under sections 255, 265, 266, and chapter 9 of the income
tax act of 1967, 1967 PA 281, MCL 206.255, 206.265, 206.266, and
206.501 to 206.532. The state treasurer shall require the owner or
developer of the eligible property to provide to the department of
treasury all of the following information at the end of each
calendar year, including the year in which the resolution adding
that eligible property in the transformational brownfield plan is
adopted:
(i) A list of individuals domiciled within the eligible
property.
(ii) The addresses of those individuals identified in
subparagraph (i).
(iii) Any other information that may be necessary to calculate
the income tax capture revenues. The information required under
this subdivision shall be provided in a manner prescribed by the
state treasurer.
(z) "Industrial cleaning" means cleaning or removal of
contaminants from within a structure necessary to achieve the
intended use of the property.
(aa) "Infrastructure improvements" means a street, road,
sidewalk, parking facility, pedestrian mall, alley, bridge, sewer,
sewage treatment plant, property designed to reduce, eliminate, or
prevent the spread of identified soil or groundwater contamination,
drainage system, waterway, waterline, water storage facility, rail
line, utility line or pipeline, transit-oriented development,
transit-oriented property, or other similar or related structure or
improvement, together with necessary easements for the structure or
improvement, owned or used by a public agency or functionally
connected to similar or supporting property owned or used by a
public agency, or designed and dedicated to use by, for the benefit
of, or for the protection of the health, welfare, or safety of the
public generally, whether or not used by a single business entity,
provided that any road, street, or bridge shall be continuously
open to public access and that other property shall be located in
public easements or rights-of-way and sized to accommodate
reasonably foreseeable development of eligible property in
adjoining areas. Infrastructure improvements also include 1 or more
of the following whether publicly or privately owned or operated or
located on public or private property:
(i) Underground parking.
(ii) Multilevel parking structures.
(iii) Urban stormwater management systems.
(bb) "Initial income tax value" means the aggregate amount of
income tax less credits under sections 255, 265, 266, and chapter 9
of the income tax act of 1967, 1967 PA 281, MCL 206.255, 206.265,
206.266, and 206.501 to 206.532, from individuals domiciled within
the eligible property subject to a transformational brownfield plan
for the tax year in which the resolution adding that eligible
property in the transformational brownfield plan is adopted.
(cc) "Initial taxable value" means the taxable value of an
eligible property identified in and subject to a brownfield plan at
the time the resolution adding that eligible property in the
brownfield plan is adopted, as shown either by the most recent
assessment roll for which equalization has been completed at the
time the resolution is adopted or, if provided by the brownfield
plan, by the next assessment roll for which equalization will be
completed following the date the resolution adding that eligible
property in the brownfield plan is adopted. Property exempt from
taxation at the time the initial taxable value is determined shall
be included with the initial taxable value of zero. Property for
which a specific tax is paid in lieu of property tax shall not be
considered exempt from taxation. The state tax commission shall
prescribe the method for calculating the initial taxable value of
property for which a specific tax was paid in lieu of property tax.
The initial assessed value may be modified by lowering the initial
assessed value once during the term of the brownfield plan through
an amendment as provided in section 14 after the tax increment
financing
plan fails to generate captured assessed value taxes for
3 consecutive years due to declines in assessed value.
(dd) "Initial withholding tax value" means the amount of
income tax withheld under part 3 of the income tax act of 1967,
1967 PA 281, MCL 206.701 to 206.713, from individuals employed
within the eligible property subject to a transformational
brownfield plan for the calendar year in which the resolution
adding the eligible property to the plan is adopted. For purposes
of this act, an individual is employed within the eligible property
if the eligible property is the individual's principal place of
employment. The initial withholding tax value shall not include
construction period tax capture revenues.
(ee) "Land bank fast track authority" means an authority
created under the land bank fast track act, 2003 PA 258, MCL
124.751 to 124.774.
(ff) "Local taxes" means all taxes levied other than taxes
levied for school operating purposes.
(gg) "Michigan strategic fund" means the Michigan strategic
fund created under the Michigan strategic fund act, 1984 PA 270,
MCL 125.2001 to 125.2094.
(hh) "Mixed-use" means a real estate project with planned
integration of some combination of retail, office, residential, or
hotel uses.
(ii) "Municipality" means all of the following:
(i) A city.
(ii) A village.
(iii) A township in those areas of the township that are
outside of a village.
(iv) A township in those areas of the township that are in a
village upon the concurrence by resolution of the village in which
the zone would be located.
(v) A county.
(jj) "Owned by or under the control of" means that a land bank
fast track authority or a qualified local unit of government has 1
or more of the following:
(i) An ownership interest in the property.
(ii) A tax lien on the property.
(iii) A tax deed to the property.
(iv) A contract with this state or a political subdivision of
this state to enforce a lien on the property.
(v) A right to collect delinquent taxes, penalties, or
interest on the property.
(vi) The ability to exercise its authority over the property.
(kk) "Part 111", "part 201", "part 211", or "part 213" means
that part as described as follows:
(i) Part 111 of the natural resources and environmental
protection act, 1994 PA 451, MCL 324.11101 to 324.11153.
(ii) Part 201 of the natural resources and environmental
protection act, 1994 PA 451, MCL 324.20101 to 324.20142.
(iii) Part 211 of the natural resources and environmental
protection act, 1994 PA 451, MCL 324.21101 to 324.21113.
(iv) Part 213 of the natural resources and environmental
protection act, 1994 PA 451, MCL 324.21301a to 324.21334.
(ll) "Qualified local governmental unit" means that term as
defined in the obsolete property rehabilitation act, 2000 PA 146,
MCL 125.2781 to 125.2797.
(mm) "Qualified taxpayer" means that term as defined in
sections 38d and 38g of former 1975 PA 228, or section 437 of the
Michigan business tax act, 2007 PA 36, MCL 208.1437, or a recipient
of a community revitalization incentive as described in section 90a
of the Michigan strategic fund act, 1984 PA 270, MCL 125.2090a.
(nn) "Release" means that term as defined in part 201 or part
213.
(oo) "Response activity" means either of the following:
(i) Response activity as that term is defined in part 201.
(ii) Corrective action.
(pp) "Specific taxes" means a tax levied under 1974 PA 198,
MCL 207.551 to 207.572; the commercial redevelopment act, 1978 PA
255, MCL 207.651 to 207.668; the enterprise zone act, 1985 PA 224,
MCL 125.2101 to 125.2123; 1953 PA 189, MCL 211.181 to 211.182; the
technology park development act, 1984 PA 385, MCL 207.701 to
207.718; the obsolete property rehabilitation act, 2000 PA 146, MCL
125.2781 to 125.2797; the neighborhood enterprise zone act, 1992 PA
147, MCL 207.771 to 207.786; the commercial rehabilitation act,
2005 PA 210, MCL 207.841 to 207.856; or that portion of the tax
levied under the tax reverted clean title act, 2003 PA 260, MCL
211.1021 to 211.1025a, that is not required to be distributed to a
land bank fast track authority.
(qq) "State brownfield redevelopment fund" means the state
brownfield redevelopment fund created in section 8a.
(rr) "Targeted redevelopment area" means not fewer than 40 and
not more than 500 contiguous parcels of real property located in a
qualified local governmental unit and designated as a targeted
redevelopment area by resolution of the governing body and approved
by the Michigan strategic fund. A qualified local governmental unit
is limited to designating no more than 2 targeted redevelopment
areas for the purposes of this section in a calendar year. The
Michigan strategic fund may approve no more than 5 targeted
redevelopment areas for the purposes of this section in a calendar
year.
(ss) "Tax increment revenues" means the amount of ad valorem
property taxes and specific taxes attributable to the application
of the levy of all taxing jurisdictions upon the captured taxable
value of each parcel of eligible property subject to a brownfield
plan and personal property located on that property, regardless of
whether those taxes began to be levied after the brownfield plan
was adopted. Tax increment revenues do not include any of the
following:
(i) Ad valorem property taxes specifically levied for the
payment of principal of and interest on either obligations approved
by the electors or obligations pledging the unlimited taxing power
of the local governmental unit, and specific taxes attributable to
those ad valorem property taxes.
(ii) For tax increment revenues attributable to eligible
property also exclude the amount of ad valorem property taxes or
specific taxes captured by a downtown development authority under
1975
PA 197, MCL 125.1651 to 125.1681, part
2 of the recodified tax
increment financing act, 2018 PA 57, MCL 125.4201 to 125.4230, tax
increment finance authority under the tax increment finance
authority
act, 1980 PA 450, MCL 125.1801 to 125.1830, part 3 of the
recodified tax increment financing act, 2018 PA 57, MCL 125.4301 to
125.4329,
corridor improvement authority, under the
corridor
improvement
authority act, 2005 PA 280, MCL 125.2871 to 125.2899,
part 6 of the recodified tax increment financing act, 2018 PA 57,
MCL 125.4602 to 125.4629, or local development finance authority
under
the local development financing act, 1986 PA 281, MCL
125.2151
to 125.2174, part 4 of the
recodified tax increment
financing act, 2018 PA 57, MCL 125.4401 to 125.4420, if those taxes
were captured by these other authorities on the date that eligible
property became subject to a brownfield plan under this act.
(iii) Ad valorem property taxes levied under 1 or more of the
following or specific taxes attributable to those ad valorem
property taxes:
(A) The zoological authorities act, 2008 PA 49, MCL 123.1161
to 123.1183.
(B) The art institute authorities act, 2010 PA 296, MCL
123.1201 to 123.1229.
(tt) "Taxable value" means the value determined under section
27a of the general property tax act, 1893 PA 206, MCL 211.27a.
(uu) "Taxes levied for school operating purposes" means all of
the following:
(i) The taxes levied by a local school district for operating
purposes.
(ii) The taxes levied under the state education tax act, 1993
PA 331, MCL 211.901 to 211.906.
(iii) That portion of specific taxes attributable to taxes
described under subparagraphs (i) and (ii).
(vv) "Transformational brownfield plan" means a brownfield
plan that meets the requirements of section 13c and is adopted
under section 14a and, as designated by resolution of the governing
body and approved by the Michigan strategic fund, will have a
transformational impact on local economic development and community
revitalization based on the extent of brownfield redevelopment and
growth in population, commercial activity, and employment that will
result from the plan. To be designated a transformational
brownfield plan, a transformational brownfield plan under this
subdivision shall be for mixed-use development and shall be
expected to result in the following levels of capital investment:
(i) In a municipality that is not a county and that has a
population of at least 600,000, $500,000,000.00.
(ii) In a municipality that is not a county and that has a
population of at least 150,000 and not more than 599,999,
$100,000,000.00.
(iii) In a municipality that is not a county and that has a
population of at least 100,000 and not more than 149,999,
$75,000,000.00.
(iv) In a municipality that is not a county and that has a
population of at least 50,000 and not more than 99,999,
$50,000,000.00.
(v) In a municipality that is not a county and that has a
population of at least 25,000 and not more than 49,999,
$25,000,000.00.
(vi) In a municipality that is not a county and that has a
population of less than 25,000, $15,000,000.00.
(ww) "Transit-oriented development" means infrastructure
improvements that are located within 1/2 mile of a transit station
or transit-oriented property that promotes transit ridership or
passenger rail use as determined by the board and approved by the
municipality in which it is located.
(xx) "Transit-oriented property" means property that houses a
transit station in a manner that promotes transit ridership or
passenger rail use.
(yy) "Withholding tax capture revenues" means the amount for
each calendar year by which the income tax withheld under part 3 of
the income tax act of 1967, 1967 PA 281, MCL 206.701 to 206.713,
from individuals employed within the eligible property subject to a
transformational brownfield plan exceeds the initial withholding
tax value. Withholding tax capture revenues shall not include
income tax from individuals domiciled within the eligible property
or construction period tax capture revenues. To calculate
withholding tax capture revenues for a calendar year under a
transformational brownfield plan, the state treasurer or the
Michigan strategic fund shall do all of the following:
(i) The state treasurer shall require the owner or developer
of the eligible property to provide the department of treasury with
notice not more than 10 days from the date an employer commences or
terminates occupancy within the eligible property. As used in this
subdivision, "employer" means that term as defined in section 8 of
the income tax act of 1967, 1967 PA 281, MCL 206.8.
(ii) The state treasurer shall develop methods and processes
that are necessary for each employer occupying the eligible
property to report the amount of withholding under part 3 of the
income tax act of 1967, 1967 PA 281, MCL 206.701 to 206.713, from
individuals employed within the eligible property.
(iii) The Michigan strategic fund shall include the following
provisions in the development or reimbursement agreement for any
transformational brownfield plan that utilizes withholding tax
capture revenues:
(A) That the owner or developer of the eligible property shall
require each employer occupying the eligible property to comply
with the reporting requirements under this section through a
contract requirement, lease requirement, or other such means.
(B) That reimbursement of withholding tax capture revenues is
limited to amounts that are reported in accordance with part 3 of
the income tax act of 1967, 1967 PA 281, MCL 206.701 to 206.713,
and this state has no obligation with respect to withholding tax
capture revenues that are not reported or paid.
(zz) "Work plan" means a plan that describes each individual
activity to be conducted to complete eligible activities and the
associated costs of each individual activity.
(aaa) "Zone" means, for an authority established before June
6, 2000, a brownfield redevelopment zone designated under this act.
Sec. 8. (1) An authority may establish a local brownfield
revolving fund. A local brownfield revolving fund shall consist of
funds deposited from the following sources:
(a) Funds appropriated or otherwise made available from public
or private sources.
(b) Local tax and school operating tax increment revenue
captured in excess of the amount authorized for eligible expenses
under section 13(4) only when all of the following conditions are
met:
(i) The excess capture occurs during the time of capture for
the purpose of paying the costs permitted under section 13(4), or
for not more than 5 years after the time that capture is required
for the purpose of paying the costs permitted under section 13(4),
or both.
(ii) The excess local tax excess capture shall
not exceed the
total of the cost of eligible activities approved in the brownfield
plan.
(iii) The excess capture of taxes for school operating
purposes shall not exceed the total of the cost of eligible
department specific activities approved in the applicable
brownfield plan, combined brownfield plan, or work plan. The total
excess tax capture shall not exceed the total of the cost of
eligible activities approved in the brownfield plan.
(iv) Excess tax increment revenues from taxes levied for
school operating purposes for eligible activities authorized under
section 13b(4) by the Michigan strategic fund shall not be captured
for deposit in the local brownfield revolving fund.
(2) The capture of school operating tax increment revenue
described in subsection (1)(b) is subject to the 50% capture
specified in section 13b(14).
(3) The tax increment revenues from eligible property for
deposit in the local brownfield revolving fund may include tax
increment revenues attributable to taxes levied for school
operating purposes in an amount not greater than the tax increment
revenues levied for school operating purposes captured from the
eligible property pursuant to section 13(4).
(4) The local brownfield revolving fund may be used only to
pay
the costs of eligible activities on eligible property that is
located within the municipality and meets at least 1 of the
conditions under section 2(o). However, activities outlined in
section 13b(8) may be conducted and funded on prospective
properties.
(5) An authority or a municipality on behalf of an authority
may incur an obligation for the purpose of funding a local
brownfield revolving fund.
Sec. 13. (1) When adopting a brownfield plan, the board shall
comply with the notice and approval provisions of section 14.
(2) Subject to section 15, the board may implement a
brownfield plan. The brownfield plan may apply to 1 or more parcels
of eligible property whether or not those parcels of eligible
property are contiguous and may be amended to apply to additional
parcels of eligible property. Except as otherwise authorized by
this act, if more than 1 eligible property is included within the
plan, the tax increment revenues under the plan shall be determined
individually for each eligible property. Each plan or an amendment
to a plan shall be approved by the governing body of the
municipality and shall contain all of the following:
(a) A description of the costs of the plan intended to be paid
for with the tax increment revenues or, for a plan for eligible
properties qualified on the basis that the property is owned by or
under the control of a land bank fast track authority, a listing of
all eligible activities that may be conducted for 1 or more of the
eligible properties subject to the plan.
(b) A brief summary of the eligible activities that are
proposed for each eligible property or, for a plan for eligible
properties qualified on the basis that the property is owned by or
under the control of a land bank fast track authority, a brief
summary of eligible activities conducted for 1 or more of the
eligible properties subject to the plan.
(c) An estimate of the captured taxable value and tax
increment revenues for each year of the plan from the eligible
property. The plan may provide for the use of part or all of the
captured taxable value, including deposits in the local brownfield
revolving fund, but the portion intended to be used shall be
clearly stated in the plan. The plan shall not provide either for
an exclusion from captured taxable value of a portion of the
captured taxable value or for an exclusion of the tax levy of 1 or
more taxing jurisdictions unless the tax levy is excluded from tax
increment revenues in section 2(ss), or unless the tax levy is
excluded from capture under section 15.
(d) The method by which the costs of the plan will be
financed, including a description of any advances made or
anticipated to be made for the costs of the plan from the
municipality.
(e) The maximum amount of note or bonded indebtedness to be
incurred, if any.
(f) The proposed beginning date and duration of capture of tax
increment revenues for each eligible property as determined under
section 13b(16).
(g) An estimate of the future tax revenues of all taxing
jurisdictions in which the eligible property is located to be
generated during the term of the plan.
(h) A legal description of the eligible property to which the
plan applies, a map showing the location and dimensions of each
eligible property, a statement of the characteristics that qualify
the property as eligible property, and a statement of whether
personal property is included as part of the eligible property. If
the project is on property that is functionally obsolete, the
taxpayer shall include, with the application, an affidavit signed
by a level 3 or level 4 assessor, that states that it is the
assessor's expert opinion that the property is functionally
obsolete and the underlying basis for that opinion.
(i) Estimates of the number of persons residing on each
eligible property to which the plan applies and the number of
families and individuals to be displaced. If occupied residences
are designated for acquisition and clearance by the authority, the
plan shall include a demographic survey of the persons to be
displaced, a statistical description of the housing supply in the
community, including the number of private and public units in
existence or under construction, the condition of those in
existence, the number of owner-occupied and renter-occupied units,
the annual rate of turnover of the various types of housing and the
range of rents and sale prices, an estimate of the total demand for
housing in the community, and the estimated capacity of private and
public housing available to displaced families and individuals.
(j) A plan for establishing priority for the relocation of
persons displaced by implementation of the plan.
(k) Provision for the costs of relocating persons displaced by
implementation of the plan, and financial assistance and
reimbursement of expenses, including litigation expenses and
expenses incident to the transfer of title, in accordance with the
standards and provisions of the uniform relocation assistance and
real property acquisition policies act of 1970, Public Law 91-646.
(l) A strategy for compliance with 1972 PA 227, MCL 213.321 to
213.332.
(m) Other material that the authority or governing body
considers pertinent to the brownfield plan.
(3) When taxes levied for school operating purposes are
subject to capture under section 15, the percentage of school
operating tax increment revenues captured relating to a parcel of
eligible property under a brownfield plan shall not be greater than
the percentage of local tax increment revenues that are captured
under the brownfield plan relating to that parcel of eligible
property.
(4) Except as provided in subsection (5) and sections 8,
13b(4) and (5), and 13c(12), tax increment revenues related to a
brownfield plan shall be used only for 1 or more of the following:
(a) Costs of eligible activities attributable to the eligible
property that produces the tax increment revenues.
(b) Eligible activities attributable to any eligible property
for property that is owned by or under the control of a land bank
fast track authority or a qualified local unit of government.
(5)
A brownfield plan shall not may
only authorize the capture
of
tax increment revenue from eligible property after until the
year in which the total amount of tax increment revenues captured
is equal to the sum of the costs permitted to be funded with tax
increment revenues under this act or for not more than 30 years
from the beginning date of the capture of the tax increment
revenues
for that eligible property, whichever occurs first. ,
except
that a A brownfield plan may authorize the capture of
additional local and school operating tax increment revenue from an
eligible
property if for the local
brownfield revolving fund
created under section 8 during 1 or more of the following
apply:time frames:
(a)
During the The time of capture described in this
subsection for the purpose of paying the costs permitted under
subsection (4) or section 13b(4).
(b) For not more than 5 years after the date specified in
subdivision
(a). , for payment to the local brownfield revolving
fund
created under section 8.
Sec. 13b. (1) An authority shall not expend tax increment
revenues to acquire or prepare eligible property unless the
acquisition or preparation is an eligible activity.
(2) An authority shall not enter into agreements with the
taxing jurisdictions and the governing body of the municipality to
share a portion of the taxes captured from an eligible property
under this act. Upon adoption of the plan, the collection and
transmission of the amount of tax increment revenues as specified
in this act shall be binding on all taxing units levying ad valorem
property taxes or specific taxes against property located in the
zone.
(3) Tax increment revenues captured from taxes levied by this
state under the state education tax act, 1993 PA 331, MCL 211.901
to 211.906, or taxes levied by a local school district shall not be
used to assist a land bank fast track authority with clearing or
quieting title, acquiring, selling, or conveying property, except
as provided in subsection (4).
(4) If a brownfield plan includes the use of taxes levied for
school operating purposes captured from an eligible property for
eligible activities that are not department specific activities,
then 1 or more of the following apply:
(a) A combined brownfield plan or a work plan shall be
approved by the Michigan strategic fund and a development agreement
or reimbursement agreement between the municipality or authority
and an owner or developer of eligible property is required before
such tax increment may be used for infrastructure improvements that
directly benefit eligible property, demolition of structures that
is not response activity, lead, mold, or asbestos abatement that is
not a department specific activity, site preparation that is not
response activity, relocation of public buildings or operations for
economic development purposes, or acquisition of property by a land
bank fast track authority if acquisition of the property is for
economic development purposes.
(b) Approval of a combined brownfield plan or a work plan by
the Michigan strategic fund in the manner required under section
15(12) to (14) or (20) is required in order to use the tax
increment revenues to assist a land bank fast track authority or
qualified local governmental unit with clearing or quieting title,
acquiring, selling, or conveying property.
(c) The combined brownfield plan or work plan to be submitted
to the Michigan strategic fund under this subsection shall be in a
form prescribed by the Michigan strategic fund.
(d) The eligible activities to be conducted and described in
this subsection shall be consistent with the combined brownfield
plan or work plan submitted by the authority to the Michigan
strategic fund.
(e) The department's approval is not required for the capture
of taxes levied for school operating purposes for eligible
activities described in this section.
(5) If a brownfield plan includes the use of taxes levied for
school operating purposes captured from eligible property for
department specific activities, a combined brownfield plan or a
work plan must be approved by the department with the exception of
those activities identified in subsections (8) and (9).
(6) An authority shall not do any of the following:
(a) Use taxes captured from eligible property to pay for
eligible activities conducted before approval of the brownfield
plan.
(b) Use taxes captured from eligible property to pay for
administrative and operating activities of the authority or the
municipality on behalf of the authority for activities, other than
those identified in subsection (7).
(c)
For eligible activities not described in subsection (4),
an
authority shall not use Use taxes levied for school operating
purposes
captured from eligible property unless the eligible
activities
to be conducted on the eligible property are eligible
department
specific activities, consistent with a combined
brownfield
plan or a work plan approved by the department after
July
24, 1996.for activities other
than those identified in
subsections (4), (5), and (12).
(d) Use construction period tax capture revenues, withholding
tax capture revenues, or income tax capture revenues to pay for
eligible activities conducted before approval of the
transformational brownfield plan except for costs described in
section 13c(10).
(e) Use construction period tax capture revenues, withholding
tax capture revenues, and income tax capture revenues for any
expense other than as provided for in section 13c(2), except for
the reasonable costs for preparing a transformational brownfield
plan and the additional administrative and operating expenses of
the authority or municipality as are specifically associated with
the implementation of a transformational brownfield plan. For
purposes of this subsection, the reasonable costs of preparing a
transformational brownfield plan include the reasonable costs of
preparing an associated work plan, combined brownfield plan, and
development or reimbursement agreement.
(7) An authority may use taxes captured from eligible property
to pay for the administrative and operating costs under 1 or more
of the following:
(a) Local taxes captured may be used for 1 or more of the
following administrative and operating purposes:
(i) Reasonable and actual administrative and operating
expenses of the authority.
(ii) Department specific activities conducted by or on behalf
of the authority related directly to work conducted on prospective
eligible properties prior to approval of the brownfield plan.
(iii) Reasonable costs of developing and preparing brownfield
plans, combined plans, or work plans for which tax increment
revenues may be used under subsection (4), including, but not
limited to, legal and consulting fees that are not in the ordinary
course of acquiring and developing real estate.
(iv) Reasonable cost of brownfield plan or work plan
implementation, including, but not limited to, tracking and
reporting data and plan compliance.
(b) Taxes levied for school operating purposes may be used for
1 or more of the following administrative and operating purposes:
(i) Reasonable costs of developing and preparing brownfield
plans, combined brownfield plans, or work plans for which tax
increment revenues may be used under section 13(4), including, but
not limited to, legal and consulting fees that are not in the
ordinary course of acquiring and developing real estate, not to
exceed $30,000.00.
(ii) Reasonable costs of brownfield plan or work plan
implementation, including, but not limited to, tracking and
reporting of data and plan compliance, not to exceed $30,000.00.
(c) In each fiscal year of the authority, the amount of tax
increment revenues attributable to local taxes that an authority
can use for the purposes described in subdivisions (a) and (b)
shall be determined as follows:
(i) For authorities that have 5 or fewer active projects,
$100,000.00.
(ii) For authorities that have 6 or more but fewer than 11
active projects, $125,000.00.
(iii) For authorities that have 11 or more but fewer than 16
active projects, $150,000.00.
(iv) For authorities that have 16 or more but fewer than 21
active projects, $175,000.00.
(v) For authorities that have 21 or more but fewer than 26
active projects, $200,000.00.
(vi) For authorities that have 26 or more but fewer than 31
active projects, $300,000.00.
(vii) For authorities that have 31 or more active projects,
$500,000.00.
(d) Nothing contained in this subsection shall limit the
amount of funds that may be granted, loaned, or expended by a local
brownfield revolving fund for eligible activities.
(e) As used in this subsection, "active project" means a
project in which the authority is currently capturing taxes under
this act. The amounts of tax increment revenues attributable to
local taxes listed in this subsection that an authority can use for
the purposes described in this subsection may be increased by 2%
for each written agreement entered into by an authority in either
of the following situations up to a total maximum increase of 10%:
(i) The authority is an authority established by a county and
that authority enters into a written agreement with 1 or more
municipalities within that county to serve as the only authority
for those other municipalities.
(ii) The authority enters into a written agreement with 1 or
more other authorities to administer 1 or more administrative
operations of those other authorities.
(8) The limitations of subsections (4), (5), and (6) upon the
use of taxes levied for school operating purposes shall not apply
to the costs of 1 or more of the following incurred by a person
other than the authority:
(a) Site investigation activities required to conduct a
baseline environmental assessment and to evaluate compliance with
sections 20107a and 21304c of the natural resources and
environmental protection act, 1994 PA 451, MCL 324.20107a and
324.21304c.
(b) Completing a baseline environmental assessment.
(c) Preparing a plan for compliance with sections 20107a and
21304c of the natural resources and environmental protection act,
1994 PA 451, MCL 324.20107a and 324.21304c.
(d) Performing pre-demolition and building hazardous materials
surveys.
(e) Asbestos, mold, and lead surveys.
(9) The limitations of subsections (4), (5), and (6) upon the
use of local taxes and taxes levied for school operating purposes
shall not apply to the following costs and expenses:
(a) For tax increment revenues attributable to taxes levied
for school operating purposes, eligible activities associated with
unanticipated response activities conducted on eligible property if
that eligible property has been included in a brownfield plan, if
the department is consulted in writing on the unanticipated
response activities before they are conducted and the costs of
those activities are subsequently included in a brownfield plan,
combined brownfield plan or a work plan or amendment approved by
the authority and approved by the department.
(b) For tax increment revenues attributable to local taxes,
any eligible activities conducted on eligible property or
prospective eligible properties prior to approval of the brownfield
plan, if those costs and the eligible property are subsequently
included in a brownfield plan approved by the authority.
(c) For tax increment revenues attributable to taxes levied
for school operating purposes, eligible activities described in
subsection (4) and conducted on eligible property or prospective
eligible properties prior to approval of the brownfield plan, if
those costs and the eligible property are subsequently included in
a brownfield plan approved by the authority and a combined
brownfield plan or work plan approved by the Michigan strategic
fund.
(d) Reasonable cost of developing and preparing brownfield
plans, combined brownfield plans, or work plans for which tax
increment revenues may be used under section 13(4), including, but
not limited to, legal and consulting fees that are not in the
ordinary course of acquiring and developing real estate.
(e) Reasonable cost of brownfield plan or work plan
implementation, including, but not limited to, tracking and
reporting of data and plan compliance.
(10) An authority shall not use taxes levied for school
operating purposes captured from eligible property for response
activities that benefit a party responsible for an activity causing
a release under section 20126 or 21323a of the natural resources
and environmental protection act, 1994 PA 451, MCL 324.20126 and
324.21323a, except that a municipality that established the
authority may use taxes levied for school operating purposes
captured from eligible property for response activities associated
with a landfill.
(11) A brownfield authority may reimburse advances, with or
without interest, made by a municipality under section 7(3), a land
bank fast track authority, or any other person or entity for costs
of eligible activities with any source of revenue available for use
of the brownfield authority under this act.
(12) A brownfield authority may capture taxes for the payment
of interest, as follows:
(a) If an authority reimburses a person or entity under this
section for an advance for the payment or reimbursement of the cost
of eligible activities and interest thereon, the authority may
capture local taxes for the payment of that interest.
(b) If an authority reimburses a person or entity under this
section for an advance for the payment or reimbursement of the cost
of department specific activities and interest thereon included in
a combined brownfield plan or a work plan approved by the
department, the authority may capture taxes levied for school
operating purposes and local taxes for the payment of that
interest.
(c) If an authority reimburses a person or entity under this
section for an advance for the payment or reimbursement of the cost
of eligible activities that are not department specific activities
and interest thereon included in a combined brownfield plan or a
work plan approved by the Michigan strategic fund, the authority
may capture taxes levied for school operating purposes and local
taxes for the payment of that interest provided that the Michigan
strategic fund grants an approval for the capture of taxes levied
for school operating purposes to pay such interest.
(13) An authority may enter into agreements related to these
reimbursements and payments described in this section. A
reimbursement agreement for these purposes and the obligations
under that reimbursement agreement shall not be subject to section
13 or the revised municipal finance act, 2001 PA 34, MCL 141.2101
to 141.2821.
(14) Notwithstanding anything to the contrary in this act, for
a brownfield plan that includes the capture of taxes levied for
school operating purposes from each eligible property included in a
brownfield plan after January 1, 2013, an authority shall pay to
the department of treasury at least once annually an amount equal
to 50% of the taxes levied under the state education tax act, 1993
PA 331, MCL 211.901 to 211.906, including 50% of that portion of
specific taxes attributable to, but not levied under, the state
education tax act, 1993 PA 331, MCL 211.901 to 211.906, that are
captured under the brownfield plan until the expiration of the
earlier of the following:
(a) Twenty-five years of capture of tax increment revenues
from such eligible property included in the brownfield plan.
(b) The later of:
(i) The date of repayment of all eligible expenses relative to
such eligible property.
(ii) The date excess capture is terminated under subsection
(16).
(15) The department of treasury shall deposit the amounts
described in subsection (14) into the state brownfield
redevelopment fund. If an authority makes a payment as required
under subsection (14) to the department of treasury, the local
taxes levied on that parcel and used to reimburse eligible
activities under a brownfield plan shall not be increased or
decreased due to that payment. If, due to an appeal of any tax
assessment, an authority is required to reimburse a taxpayer for
any portion of the amount paid to the department of treasury under
this subsection, the department of treasury shall reimburse that
amount to the authority within 30 days after receiving a request
from the authority for reimbursement.
(16) The brownfield plan shall include a proposed beginning
date
of capture. The If the
actual beginning date of capture of tax
increment
revenues shall not be is later than 5 years following the
date
of the adoption of the brownfield
plan resolution, including
the
eligible property in the brownfield plan. then the maximum
number of years of capture will decrease. The end date of capture
must be no later than 35 years after the date of the adoption of
the brownfield plan resolution. The authority may amend the
beginning date of capture of tax increment revenues for a
particular
eligible property to a date not later than 5 years
following
the date of the resolution including the eligible
property
in the brownfield plan. The authority may not amend the
beginning
date of capture of tax increment revenues for a
particular
eligible property if as long
as the authority has not
begun to reimburse eligible activities from the capture of tax
increment revenues from that eligible property. Any tax increment
revenues captured from an eligible property before the beginning
date of capture of tax increment revenues for that eligible
property shall revert proportionately to the respective tax bodies.
If
an authority amends the beginning date for capture of tax
increment
revenues that includes the capture of tax increment
revenues
for school operating purposes, then the authority shall
notify
the department or the Michigan strategic fund, as
applicable,
within 30 days after amending the beginning date.
Sec. 16. (1) The municipal and county treasurers shall
transmit tax increment revenues to the authority not more than 30
days after tax increment revenues are collected.
(2) The authority shall expend the tax increment revenues
received only in accordance with the brownfield plan. All surplus
funds not deposited in the local brownfield revolving fund of the
authority under section 8 shall revert proportionately to the
respective taxing bodies, except as provided in section 15(16).
(3) The authority shall submit annually to the governing body,
the department, and the Michigan strategic fund a financial report
on the status of the activities of the authority for each calendar
year. The report shall include all of the following:
(a)
The amount and source of tax increment revenues
received.total amount of local taxes that are approved
for capture
and the total amount of taxes levied for school operating purposes
that are approved for capture for each parcel included in a
brownfield plan.
(b) The amount and purpose of expenditures of tax increment
revenues.
(c)
The amount of principal and interest on all outstanding
indebtedness.and source of tax increment revenues received
for each
active brownfield plan, including the amount of tax increment
revenues captured in the most recent tax year and the cumulative
amount of tax increment revenues captured for each brownfield plan.
(d) The initial taxable value of all eligible property subject
to the brownfield plan.
(e) The captured taxable value realized by the authority for
each eligible property subject to the brownfield plan.
(f) The amount of actual capital investment made for each
project.
(g) The amount of tax increment revenues attributable to taxes
levied for school operating purposes used for activities described
in
section 13b(6)(c), section 2(o)(i)(H), 2(o)(i)(F) and (G), and
section
2(o)(i)(B) 2(o)(ii)(B) and
(C).
(h) The number of residential units constructed or
rehabilitated for each project.
(i) The amount, by square foot, of new or rehabilitated
residential, retail, commercial, or industrial space for each
project.
(j) The number of new jobs created at the project.
(k) A copy of all brownfield plan amendments approved by the
local unit of government.
(l) (k)
All additional information that the
governing body,
the department, or the Michigan strategic fund considers necessary.
(4) The department and the Michigan strategic fund shall
collect the financial reports submitted under subsection (3),
compile a combined report, which includes the use of local taxes,
taxes levied for school operating purposes, and the state
brownfield redevelopment fund, based on the information contained
in those reports and any additional information considered
necessary, and submit annually a report based on that information
to each member of the legislature.
(5) Beginning on January 1, 2013, all of the following
reporting obligations apply:
(a) The department shall on a quarterly basis post on its
website the name, location, and amount of tax increment revenues,
including taxes levied for school operating purposes, for each
project approved by the department under this act during the
immediately preceding quarter.
(b) The Michigan strategic fund shall on a quarterly basis
post on its website the name, location, and amount of tax increment
revenues, including taxes levied for school operating purposes, for
each project approved by the Michigan strategic fund under this act
during the immediately preceding quarter.
(6) In addition to any other requirements under this act, not
less than once every 3 years beginning not later than June 30,
2008, the auditor general shall conduct and report a performance
postaudit on the effectiveness of the program established under
this act. As part of the performance postaudit, the auditor general
shall assess the extent to which the implementation of the program
by the department and the Michigan strategic fund facilitate and
affect the redevelopment or reuse of eligible property and identify
any factors that inhibit the program's effectiveness. The
performance postaudit shall also assess the extent to which the
interpretation of statutory language, the development of guidance
or administrative rules, and the implementation of the program by
the department and the Michigan strategic fund is consistent with
the fundamental objective of facilitating and supporting timely and
efficient brownfield redevelopment of eligible properties.
(7) The owner or developer for an active project included
within a brownfield plan must annually submit to the authority a
report on the status of the project. The report shall be in a form
developed by the authority and must contain information necessary
for the authority to report under subsection (3)(f), (h), (i), (j),
and (k). The authority may waive the requirement to submit a report
under this subsection. As used in this subsection, "active project"
means a project for which the authority is currently capturing
taxes under this act.
(8) For a transformational brownfield plan, all of the
following shall also apply:
(a) The state treasurer shall transfer to the state brownfield
redevelopment fund each fiscal year an amount equal to the
construction period tax capture revenues, withholding tax capture
revenues, and income tax capture revenues under all approved plans
as provided for in section 8a(4). Funds shall be transmitted to the
authority, or owner or developer of the eligible property to which
the revenues are attributable, within 30 days of transfer to the
state brownfield redevelopment fund.
(b) The authority, the department, and the Michigan strategic
fund shall follow the reporting requirements of subsections (3),
(4), and (5) with respect to all approved transformational
brownfield plans, and shall provide information on the amount and
use of construction period tax capture revenues, withholding tax
capture revenues, and income tax capture revenues to the same
extent required for tax increment revenues.
(c) The owner or developer of active projects included within
a transformational brownfield plan shall provide the information
required for the authority, the department, and the Michigan
strategic fund to satisfy the reporting and audit requirements of
this section.
