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MI HB5979
Bill
Status
12/15/2010
Primary Sponsor
Lesia Liss
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AI Summary
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Amends the Historical Neighborhood Tax Increment Finance Authority Act to add definitions for "transit-oriented development" and "transit-oriented facility" to the law's terminology section.
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Defines "transit-oriented development" as infrastructure improvements within 1/2 mile of a transit station that promote transit ridership or passenger rail use, subject to board approval and municipal consent.
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Defines "transit-oriented facility" as a facility that houses a transit station in a manner promoting transit ridership or passenger rail use.
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Clarifies that public facilities now explicitly include transit-oriented developments and transit-oriented facilities as eligible projects under the tax increment financing authority.
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Effective immediately upon Governor's approval on December 14, 2010.
Legislative Description
Economic development; tax increment financing; incentives to invest in transit-oriented facilities and transit-oriented development; provide for. Amends sec. 3 of 2004 PA 530 (MCL 125.2843).
Transportation, funds
Last Action
Assigned Pa 237'10 With Immediate Effect
12/15/2010