MI SB0112

Adds Section 51e to the Michigan income tax law establishing a new revenue distribution mechanism for brownfield redevelopment financing.

Requires state to deposit construction period tax capture revenues, withholding tax capture revenues, and income tax capture revenues from all transformational brownfield plans into the state brownfield redevelopment fund each fiscal year.

Revenues to be deposited are those due under transformational brownfield plans adopted under the Brownfield Redevelopment Financing Act (1996 PA 381).

Takes effect 45 days after enactment, which was July 24, 2017.