MI HB4464

Amends the Public Infrastructure Act (2010 PA 250) to define "tax increment revenues" and specify which taxes can and cannot be captured for tax increment financing purposes

Excludes state education tax and local/intermediate school district taxes from capture, except up to 50% of those taxes for up to 15 years if the state treasurer determines capture is necessary to reduce unemployment, promote economic growth, and increase capital investment

Prohibits capture of ad valorem property taxes for obligations approved by voters, taxes pledging unlimited taxing power, or taxes levied under the Zoological Authorities Act (2008 PA 49) or Art Institute Authorities Act (2010 PA 296)

Defines key terms including "parcel," "public facility" (including transit-related infrastructure and rail projects, but excluding international border tunnels/bridges), and "specific local tax" under various Michigan tax acts

Takes effect immediately upon approval by the Governor on June 16, 2013