MI SB0111

Creates "transformational brownfield plans" for mixed-use developments expected to generate $15-500 million in capital investment depending on municipality population, with approval required from Michigan Strategic Fund and governing body.

Establishes three new tax capture revenue streams for transformational plans: construction period tax capture revenues from wages paid during construction, withholding tax capture revenues from employee income taxes, and income tax capture revenues from residents, with combined annual disbursement capped at $40 million and total cap of $800 million.

Creates state brownfield redevelopment fund in Department of Treasury to receive and distribute tax capture revenues, with up to 15% of annual deposits usable for administrative costs of implementing agencies and remaining funds available for grants and loans to eligible properties.

Requires Michigan Strategic Fund approval of transformational plans based on economic viability analysis, positive fiscal impact to state, affordable housing provisions, and equitable geographic distribution with limit of 5 plans per year per municipality through December 31, 2022; after that date no new plans may be approved.

Modifies eligible activities to include broader construction and infrastructure improvements for transformational plans and expands property eligibility categories to include tax-reverted land bank property, transit-oriented development, and targeted redevelopment areas.