Michigan SB1141 amends the tax increment financing provisions to exclude certain taxes from tax increment revenues.

Michigan SB1141 amends the tax increment financing provisions to exclude certain taxes from tax increment revenues. Specifically, it excludes taxes levied under the zoological authorities act, the art institute authorities act, and the history museum authorities act from the definition of tax increment revenues. This bill also modifies the definition of tax increment revenues to exclude specific local taxes attributable to these authorities.

Michigan SB1141 amends the tax increment financing provisions to exclude certain taxes from tax increment revenues.

Michigan SB1141 amends the tax increment financing provisions to exclude certain taxes from tax increment revenues. Specifically, it excludes taxes levied under the zoological authorities act, the art institute authorities act, and the history museum authorities act from the definition of tax increment revenues. This bill also modifies the definition of tax increment revenues to exclude specific local taxes attributable to these authorities.