MI SB1043

Changes the definition of "board" to clarify it means the board that supervises and controls an authority under section 304, rather than the governing body of an authority.

Modifies language throughout section 301 to replace "may include" with "includes" regarding evidence of intent to repay advances, making the requirement mandatory rather than permissive.

Adds a new category of protected obligation (subsection ix) for municipalities with populations between 111,000 and 114,000 to finance downtown projects involving office building repurposing, residential housing construction, and public infrastructure through 2059.

Extends the allowable lease payment period for a specific authority contract from 30 years (ending 2039) to 50 years (ending 2059) and correspondingly extends the development plan duration.

Makes minor grammatical and stylistic changes throughout, including replacing "pursuant to" with "under," "shall be" with "is," and updating cross-references to correct section numbers.