MI SB0562

Amends the Brownfield Redevelopment Authority Act to expand the definition of "blighted property" to include property owned by or under control of a land bank fast track authority, with property retaining blighted status even after sale, lease, or transfer by the authority.

Adds "qualified facility" definition as a landfill facility area of 15 or more contiguous acres in a city that contains, contained, or is adjacent to a landfill, material recycling facility, or asphalt plant no longer in operation, making such properties eligible for brownfield redevelopment activities.

Expands eligible activities for qualified facilities not located in qualified local governmental units to include infrastructure improvements and site preparation, in addition to environmental remediation activities.

Establishes "transformational brownfield plan" category requiring specified minimum capital investment levels based on municipality population ($15 million to $500 million) and allowing use of income tax and withholding tax capture revenues for reimbursement.

Takes immediate effect upon enactment (July 25, 2022).