MI HB5283

Amends the Brownfield Redevelopment Financing Act to expand definitions and clarify eligible activities for brownfield redevelopment authorities in Michigan municipalities.

Adds new definition of "transformational brownfield plan" requiring mixed-use development with specified capital investment minimums based on municipality population (ranging from $15 million for cities under 25,000 to $500 million for cities over 600,000).

Expands eligible activities to include demolition of structures and removal of manufactured debris, and for transformational brownfield plans, includes any demolition, construction, restoration, alteration, renovation, or improvement of buildings and site improvements.

Introduces three new revenue capture mechanisms for transformational brownfield plans: construction period tax capture revenues, withholding tax capture revenues, and income tax capture revenues based on wages and employment within the eligible property.

Effective June 20, 2018.