Modifies initial assessed value requirements for downtown development authorities in Michigan.

The bill amends Michigan's downtown development authorities law to modify the initial assessed value requirements for authorities established before 1985. Specifically, it sets the initial assessed value for authorities in municipalities with populations under 35,000 that expired by December 31, 1991, and for those in municipalities with populations under 1,000 in counties with populations under 100,000 that expired by December 31, 2022.

Modifies initial assessed value requirements for downtown development authorities in Michigan.

The bill amends Michigan's downtown development authorities law to modify the initial assessed value requirements for authorities established before 1985. Specifically, it sets the initial assessed value for authorities in municipalities with populations under 35,000 that expired by December 31, 1991, and for those in municipalities with populations under 1,000 in counties with populations under 100,000 that expired by December 31, 2022.