Michigan SB0668 amends the Brownfield Redevelopment Financing Act to reflect the elimination of the Michigan Strategic Fund.
Michigan SB0668 amends the Brownfield Redevelopment Financing Act to reflect the elimination of the Michigan Strategic Fund. The bill modifies provisions related to the approval and funding of transformational brownfield plans, including the establishment of safe harbor amounts for income and withholding tax capture revenues. It also sets limits on the total annual tax capture and construction period tax capture revenues that can be disbursed.
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