MI HB6145

Changes the deadline for Michigan Strategic Fund approval of transformational brownfield plans from December 31, 2027 to December 31, 2022, with no new plans approved after that date.

Limits transformational brownfield plan approvals to 5 per calendar year statewide and 5 per individual municipality prior to December 31, 2022.

Requires independent third-party underwriting analysis for plans proposing to use more than $10,000,000 annually in withholding and income tax capture revenues, with costs paid by the developer.

Caps total commitments and disbursements at $40,000,000 in annual tax capture and $800,000,000 total across all transformational brownfield plans.

Requires the Michigan Strategic Fund to set a target that at least 35% of approved plans be located in municipalities with populations under 100,000 prior to December 31, 2022.