MI SB1279

Changes the state fiscal year from commencing October 1 to commencing July 1 of each year.

Defines "operations" for the Historical Neighborhood Tax Increment Finance Authority to include office maintenance, employee salaries and expenses, office supplies, consultation fees, design costs, and other daily management expenses.

Defines "public facility" to include housing, streets, plazas, pedestrian malls, parks, parking facilities, recreational facilities, bridges, waterways, utility lines, and other structures dedicated to public use, with improvements requiring compliance with state barrier-free design requirements.

Defines "tax increment revenues" as ad valorem property taxes and specific local taxes attributable to captured assessed value in the development area, excluding state education taxes, school district taxes, certain excluded or exempted taxes, and taxes for voter-approved debt obligations.

Takes effect only if Senate Bill 1281 of the 95th Legislature is enacted into law.