MI HB4545

Municipalities may construct, acquire, improve, and repair industrial buildings and sites within or outside their jurisdiction.

Municipalities may acquire industrial machinery and equipment only as part of a project that includes construction, acquisition, or improvement of an associated industrial building.

Municipalities may issue revenue bonds to finance industrial building and equipment acquisitions, with lease agreements requiring rents sufficient to cover bond payments and operational costs.

Municipalities may mortgage or sell industrial property, including subject to mortgages, provided such actions do not impair bond holders' rights to rental income.

Beginning April 1, 2010, municipalities cannot enter agreements with businesses that fail to comply with the Michigan Corporate Responsibility Act or that fail to disclose required civil or criminal offenses, with the Attorney General responsible for enforcement.