Summary of Senate Bill 1114

• Amends the Brownfield Redevelopment Financing Act (1996 PA 381) to expand eligible activities that brownfield redevelopment authorities can finance.

• Adds renewable energy systems (photovoltaic, fuel cell, wind, hydro, wave, biofuel) and geothermal systems as eligible activities if utilized to achieve LEED (Leadership in Energy & Environmental Design) green building certification and that certification level is actually achieved.

• Includes building system improvements such as geothermal exchange systems for heating and cooling, storm-water management systems using low-impact design strategies, and underground parking as eligible activities for LEED-certified projects.

• Allows brownfield authorities to finance these green building improvements on eligible properties located in qualified local governmental units, owned by land bank fast track authorities, or in economic opportunity zones when the property is facility, functionally obsolete, or blighted.