MI SB0619

Amends the Tax Increment Financing Authority Act to clarify definitions and procedures for tax increment financing districts and captured tax revenues in Michigan municipalities.

Establishes that public library millages levied before January 1, 2017 are exempt from tax capture unless the library board agrees in writing to allow capture, with exemption available upon adopting a resolution within 60 days of boundary alterations or plan extensions.

Allows public library millages approved after December 31, 2016 to be included in tax increment revenues only through written agreement between the library board and the authority, with city chief executive concurrence required for libraries created under specific state acts.

Phases out authority funding from school district tax increment revenues for management contracts, reducing maximum allowed amounts annually from $3,000,000 (2005-2009) to $0 (after June 30, 2015).

Specifies that zoological authority taxes, art institute authority taxes, and certain library millages are excluded from tax increment revenue capture to protect dedicated public services funding.