MI SB1210

Creates state brownfield redevelopment fund as a revolving fund within the Department of Treasury to provide grants and loans for eligible brownfield redevelopment activities, with funds from tax captures and loan repayments.

Establishes grant and loan program administered by Michigan Strategic Fund requiring applications to be approved or denied within 90 days, with written agreements specifying conditions and penalties for non-compliance.

Requires authorities to pay 3 mills of captured state education tax revenues annually into state brownfield redevelopment fund for up to 25 years for brownfield plans including eligible properties added after January 1, 2013.

Expands eligible activities to include infrastructure improvements, demolition, lead/asbestos abatement, and site preparation for properties owned by land bank fast track authorities and properties in economic opportunity zones.

Clarifies tax increment revenue capture procedures, approval processes for work plans by Department of Environmental Quality and Michigan Strategic Fund, and annual reporting requirements to legislature on program effectiveness and funding usage.