HB 5566 Summary

• Expands eligible activities for brownfield redevelopment to include infrastructure improvements, demolition, lead/asbestos abatement, and site preparation for properties in qualified local governmental units, land bank fast track authority properties, and economic opportunity zones.

• Establishes new property categories eligible for brownfield redevelopment including transit-oriented developments, facilities north of the 45th parallel with $250 million+ capital investment, and former mills along federal superfund sites in cities under 10,000 population.

• Allows tax increment revenues from school operating taxes to be captured and used for eligible activities with approval from the Michigan economic growth authority, subject to specified limitations and requirements.

• Sets annual spending limits for brownfield authorities' administrative and operating expenses ranging from $100,000 to $300,000 depending on the number of active projects the authority manages.

• Provides cost recovery mechanisms allowing the state or authorities to recover response activity costs from liable parties, with recovered funds directed to local site remediation funds or the state revitalization loan fund.