MI HB5461

Establishes the "Private Investment Infrastructure Funding Act" to enable municipalities to create negotiating partnerships with public entities for financing and developing public infrastructure projects.

Allows municipalities to designate negotiated benefit areas where property tax increases (captured assessed value) can be used to finance public facilities like roads, bridges, parks, and utilities through tax increment financing.

Permits administering agencies to negotiate with private sector investors for funding, with investors receiving repayment solely from captured tax revenues without guarantee from municipalities or other public entity funds.

Requires public hearings on tax increment financing plans with notice to affected taxing jurisdictions, which have 60 days to exempt their taxes from capture by resolution.

Establishes lead fiduciary agencies to collect and distribute tax increment revenues, with annual reporting requirements to municipalities, taxing jurisdictions, and the state tax commission on account status and expenditures.