Senate Bill 1086 Summary

• Removes requirement that public libraries created under 1877 PA 164 (MCL 397.201 and 397.210a) or 1869 LA 233 obtain concurrence from the city chief executive officer before allowing their tax millage to be subject to tax increment financing capture.

• Eliminates provisions requiring state treasurer concurrence when public library actions involve bonds issued by the state or state agencies in tax increment financing districts.

• Applies changes across six sections of the Recodified Tax Increment Financing Act (MCL 125.4203, 125.4303, 125.4404, 125.4618, 125.4715, 125.4814) governing downtown development authorities, development areas, and tax capture procedures.

• Corrects a cross-reference in section 715 from section 821 to section 719 for tax increment financing plan approval requirements.

• Corrects a cross-reference in section 814 from section 816 to section 817 for development plan requirements.