TAX INC. FINANCING: COUNTY NOTICE H.B. 4013: FLOOR ANALYSIS
House Bill 4013 (as reported without amendment)
Sponsor: Representative Tom Meyer
House Committee: Commerce
Senate Committee: Economic Development, Small Business and Regulatory Affairs
CONTENT
The bill would amend the Tax Increment Finance Authority Act to require that notices of hearings be sent by certified mail to the treasurer, clerk, and chairperson of the board of commissioners of the county in which a proposed authority district was located.
Under the Act, the governing body of a municipality must set a date for a public hearing on the adoption of a proposed resolution creating an authority and designating the boundaries of the authority district or districts. At least 20 days before the hearing, the governing body must mail notice of the hearing to the property taxpayers of record in a proposed authority district, and to the governing body of each taxing jurisdiction levying taxes that will be subject to capture if the authority is established and a tax increment financing plan is approved.
The Act also requires the governing body to hold a public hearing before approving a development plan or a tax increment financing plan, and to mail notice of this hearing to all property taxpayers in the development area, at least 20 days before the hearing.
Under the bill, a governing body would have to mail notice of a public hearing by certified mail to the treasurer, clerk, and chairperson of the board of commissioners of the county in which an authority district or a proposed development area was located, at least 20 days before the date set for the hearing.
The bill also would require a governing body to hold a public hearing before amending (as well as before approving) a development plan or tax increment financing plan.
The proposed notice requirements would apply beginning June 1, 2005.
MCL 125.1803 & 125.1817 Legislative Analyst: J.P. Finet
FISCAL IMPACT
The bill would have no fiscal impact on State or local government.
Date Completed: 4-11-05 Fiscal Analyst: David Zin
floor\hb4013 Analysis available @ http://www.michiganlegislature.org
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.
Analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent. hb4013/0506