Michigan HB5395 amends the Brownfield Redevelopment Authority Act to modify tax increment financing credits for brownfield redevelopment.

Michigan HB5395 amends the Brownfield Redevelopment Authority Act to modify tax increment financing credits for brownfield redevelopment. The bill specifies that a municipality is not liable on bonds or notes issued by the authority and that these bonds or notes are not a debt of the municipality. It outlines the eligible activities that can be funded by tax increment revenues, including infrastructure improvements, demolition, and site preparation.

Michigan HB5395 amends the Brownfield Redevelopment Authority Act to modify tax increment financing credits for brownfield redevelopment.

Michigan HB5395 amends the Brownfield Redevelopment Authority Act to modify tax increment financing credits for brownfield redevelopment. The bill specifies that a municipality is not liable on bonds or notes issued by the authority and that these bonds or notes are not a debt of the municipality. It outlines the eligible activities that can be funded by tax increment revenues, including infrastructure improvements, demolition, and site preparation.