MI SB0630

Amends Michigan's Tax Increment Finance Authority Act to modify definitions and provisions governing tax increment financing for economic development projects.

Extends the sunset date for receiving tax increment revenues to pay eligible obligations and management contracts, reducing annual revenue caps from $3,000,000 (2005-2009) to $0 after June 30, 2015.

Authorizes refunding of certain tax increment bonds issued before December 31, 2019 with final maturity extended to 2039, and allows municipalities to pledge full faith and credit for repayment.

Adds definitions for transit-oriented development and transit-oriented facilities as eligible public facilities that can receive tax increment financing.

Clarifies that tax increment revenues may include state education tax levies and school district taxes necessary to repay eligible advances and protected obligations.