Economic development: tax increment financing; definition of tax increment revenues; exclude taxes levied under history museum authorities act. Amends secs. 201, 301, 402, 523, 603, 703 & 803 of 2018 PA 57 (MCL 125.4201 et seq.). TIE BAR WITH: SB 1139'26, SB 1140'26

Summary

The bill revises several sections of the 2018 Economic Development Act to clarify what qualifies as tax increment revenues and to keep taxes collected under the History Museum Authorities Act out of those calculations. It impacts local governments and development projects that rely on tax increment financing by changing how revenue sources are counted. The goal is to provide clearer rules for funding future economic‑development projects.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share