Economic development: brownfield redevelopment authority; HOPE zone exemption; provide for. Amends sec. 13c of 1996 PA 381 (MCL 125.2663c). TIE BAR WITH: HB 5852'26

Summary

The bill amends the Brownfield Redevelopment Financing Act to create a transformational brownfield plan that lets local governments and the Michigan Strategic Fund approve the use of construction‑period, withholding, income, sales/use, and tax‑increment revenues for eligible redevelopment activities. It requires public notice, approval by the municipal governing body and the strategic fund, and written development or reimbursement agreements, and it limits revenue capture to the amount needed to cover project costs.

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