MI HB5142

Defines "advance" as a transfer of funds from a municipality to an authority in anticipation of repayment, with evidence of repayment intent including executed agreements or resolutions.

Allows a municipality to establish multiple corridor improvement authorities, with each parcel of property limited to inclusion in only one authority.

Enables cities, villages, or townships in counties with populations between 335,000 and 415,000 that contain at least 2 state public universities to jointly create a corridor improvement authority through resolution.

Requires at least 60 days after a public hearing before the governing body can adopt a resolution establishing an authority, with the resolution to be filed with the Secretary of State and published in a newspaper of general circulation.

Establishes that a joint authority board shall consist of up to 3 individuals appointed by the chief executive officer of each participating municipality, with initial staggered 2, 3, or 4-year terms and subsequent 4-year terms.