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MI HB5998
Bill
Status
12/15/2010
Primary Sponsor
Lesia Liss
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AI Summary
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Adds "employee-owned corporation" to the definitions section of the Public Economic Development Corporations Act, referencing the employee-owned corporation act.
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Expands the definition of "project" to include transit-oriented developments and transit-oriented facilities as eligible for economic development corporation support.
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Defines "transit-oriented development" as infrastructure improvements within 1/2 mile of a transit station or facility that promote transit ridership or passenger rail use.
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Defines "transit-oriented facility" as a facility housing a transit station designed to promote transit ridership or passenger rail use.
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Effective immediately upon Governor's approval on December 14, 2010.
Legislative Description
Economic development; economic development corporations; incentives to invest in transit-oriented facilities and transit-oriented development; provide for. Amends sec. 3 of 1974 PA 338 (MCL 125.1603).
Transportation, funds
Last Action
Assigned Pa 240'10 With Immediate Effect
12/15/2010