Senate Bill 451 Summary

• Amends Michigan Renaissance Zone Act to allow designation of up to 25 additional renaissance zones for border crossing facilities in qualified border local governmental units with local consent.

• Defines "border crossing facility" as a business displaced or negatively affected by international border crossing development, or businesses involved in international trade, shipping, freight hauling, customs brokerage, distribution, truck repair, or goods assembly.

• Renaissance zones for border crossing facilities designated under this section shall have a 15-year duration of renaissance zone status.

• Board of Michigan Strategic Fund may revoke zone designation if border crossing facility fails to commence operation, ceases operation, or fails to commence construction or renovation within one year of zone designation.

• Requires development agreement between Michigan Strategic Fund and border crossing facility including compliance with state/local laws, annual reporting on capital investment, employment numbers, and percentage of materials purchased in-state.