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MI HB6076
Bill
Status
12/3/2014
Primary Sponsor
Jeff Irwin
Click for details
AI Summary
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Extends the maximum period for which mass transportation authorities may levy taxes from 5 years to 10 years.
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Allows authorities to issue self-liquidating revenue bonds under the Revenue Bond Act of 1933 or other applicable acts for acquiring, improving, enlarging, or extending mass transportation systems.
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Requires voter approval by majority of registered electors in affected political subdivisions before any tax under this section can be levied.
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Caps tax rate at 5 mills of state equalized valuation on each dollar of assessed valuation in the political subdivisions comprising the authority.
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Requires authority to file election resolution with county, city, or township clerks at least 60 days before election date and specifies that elections must be conducted according to Michigan election law.
Legislative Description
Transportation; authorities; levy of taxes by certain mass transportation system authorities; extend allowable period of tax from 5 years to 10 years. Amends sec. 7 of 1963 PA 55 (MCL 124.357).
Local government, bonds
Last Action
Printed Bill Filed 12/04/2014
12/4/2014