MCL - Index of 57-2018-3

NOTE: Dates reflect any modification to item, not necessarily a change in law.
Title Subject
57-2018-3 PART 3 TAX INCREMENT FINANCE AUTHORITIES (125.4301...125.4329)
Section 125.4301 Definitions.
Section 125.4301a Short title of part.
Section 125.4302 Authority; establishment; public body corporate; powers generally.
Section 125.4303 Resolution of intent to create and provide operation of authority; determinations; notice of public hearing; adoption, filing, and publication of resolution establishing authority and designating boundaries of authority district; alteration or amendment of boundaries; validity of proceedings establishing authority; action by library board or commission.
Section 125.4304 Board; composition; chairperson; oath of member; rules governing procedure and meetings; meetings open to public; removal of member; publicizing expense items; financial records open to public.
Section 125.4305 Board; employment, compensation, term, oath, and bond of director; chief executive office; duties of director; absence or disability of director; reports; employment, compensation, and duties of treasurer and secretary; retention and duties of legal counsel; employment of other personnel; participation in municipal retirement and insurance programs.
Section 125.4307 Board; powers generally.
Section 125.4308 Board serving as planning commission; agenda.
Section 125.4309 Authority as instrumentality of political subdivision.
Section 125.4310 Taking, transfer, and use of private property by municipality.
Section 125.4311 Financing activities of authority; sources.
Section 125.4312 Borrowing money; issuing negotiable revenue bonds; full faith and credit.
Section 125.4312a Insufficient tax increment revenues for repayment of advance or payment of obligation; appropriation and distribution to authority; filing, time, and contents of claim; distribution of amounts in 2 equal payments; appropriation and distribution of aggregate amount; limitations; distribution subject to lien; obligation as debt or liability; certification of distribution amount; basis for calculations of distributions and claims reports; debt payment period.
Section 125.4312b Retention and payment of taxes levied under state education tax act; conditions; application by authority for approval; information to be included; approval, modification, or denial of application by department of treasury; appropriation and distribution of amount; calculation of aggregate amount; lien; reimbursement calculations; legislative intent.
Section 125.4313 Preparation and submission of tax increment financing plan; contents and approval of plan; public hearing; taxing jurisdictions.
Section 125.4314 Transmitting and expending tax increment revenues; disposition of surplus funds; abolition of tax increment financing plan.
Section 125.4315 Tax increment bonds; qualified refunding obligation.
Section 125.4316 Development plan; preparation; contents.
Section 125.4317 Public hearing on development plan; publication, mailing, and contents of notice; presentation of data; record.
Section 125.4318 Development plan or tax increment plan as public purpose; determination; approval or rejection of plan; notice and hearing; conclusiveness of procedure, adequacy of notice, and certain findings; validation and conclusiveness of plan; contesting plan.
Section 125.4319 Notice to vacate.
Section 125.4320 Development area citizens council; establishment; advisory body; appointment and qualifications of members.
Section 125.4321 Consultation representative of authority and council.
Section 125.4322 Meetings of council; open to public; notice; hearing persons present at meeting; record; information and technical assistance; failures not precluding adoption of development plan.
Section 125.4323 Development or tax increment financing plan; notice of findings and recommendations.
Section 125.4324 Development area citizens council; dissolution.
Section 125.4325 Budget; cost of handling and auditing funds.
Section 125.4326 Preservation of public facility, building, or structure having significant historical interest; review of proposed changes to exterior of historic site.
Section 125.4327 Dissolution of authority; resolution; disposition of property and assets.
Section 125.4328 Authority district part of area annexed to or consolidated with another municipality; authority of annexing or consolidated municipality; effect of obligations, agreements, and bonds.
Section 125.4329 New authority or authority district and boundaries of authority district; prohibitions; validity of tax increment finance authority, authority district, development area, development plan, or tax increment financing plan established before December 30, 1986; development area created or expanded after December 29, 1986.