MI SB0623

Expands the definition of "eligible property" for tax increment financing to include alternative energy technology businesses, transit-oriented facilities, and developments, and Next Michigan development area businesses.

Allows library millages levied before January 1, 2017 to remain exempt from tax capture unless the library board agrees in writing to participate, and allows new library millages after December 31, 2016 to opt into capture through written agreement.

Permits library boards to exempt taxes from capture within 60 days after boundary alterations or plan extensions of authorities, and requires chief executive officer concurrence for libraries created under specific statutory provisions.

Modifies notice and hearing procedures for Next Michigan development corporations establishing authorities, eliminating property taxpayer notice requirements and allowing notices to be published in multiple newspapers.

Clarifies that certified technology parks and certified alternative energy parks are not subject to taxing jurisdiction opt-out provisions for tax capture exemptions.