November 28, 2007, Introduced by Rep. Young and referred to the Committee on Tax Policy.
A bill to amend 1933 (Ex Sess) PA 18, entitled
"An act to authorize any city, village, township, or county to
purchase, acquire, construct, maintain, operate, improve, extend,
and repair housing facilities; to eliminate housing conditions
which are detrimental to the public peace, health, safety, morals,
or welfare; and for any such purposes to authorize any such city,
village, township, or county to create a commission with power to
effectuate said purposes, and to prescribe the powers and duties of
such commission and of such city, village, township, or county; and
for any such purposes to authorize any such commission, city,
village, township, or county to issue notes and revenue bonds; to
regulate the issuance, sale, retirement, and refunding of such
notes and bonds; to regulate the rentals of such projects and the
use of the revenues of the projects; to prescribe the manner of
selecting tenants for such projects; to provide for condemnation of
private property for such projects; to confer certain powers upon
such commissions, cities, villages, townships, and counties in
relation to such projects, including the power to receive aid and
cooperation of the federal government; to provide for a referendum
thereon; to provide for cooperative financing by 2 or more
commissions, cities, villages, townships, or counties or any
combination thereof; to provide for the issuance, sale, and
retirement of revenue bonds and special obligation notes for such
purposes; to provide for financing agreements between cooperating
borrowers; to provide for other matters relative to the bonds and
notes and methods of cooperative financing; for other purposes; and
to prescribe penalties and provide remedies,"
by amending section 1 (MCL 125.651), as amended by 1996 PA 338.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 1. As used in this act:
(a) "Borrower" means either of the following:
(i) The city, village, township, or county operating under this
act.
(ii) A commission created under this act if empowered by
ordinance of the creating governing body to act as a borrower for
purposes of issuing bonds or notes under this act.
(b) "Business activity" means that term as defined in section
3(2)
105 of the single Michigan business tax act, Act No. 228 of
the
Public Acts of 1975, being section 208.3 of the Michigan
Compiled
Laws 2007 PA 36, MCL 208.1105.
(c) "Commission" means the housing commission created under
this act.
(d) "Governing body" means in the case of a city, the council
or commission of the city; in the case of a village, the council,
commission, or board of trustees of the village; in the case of a
township, the township board; and in the case of a county, the
board of supervisors or county commissioners.
(e) "Incorporating unit" means the city, village, township, or
county that creates a commission.
(f) "Ordinance" means either of the following:
(i) An ordinance of a city, village, township, or county.
(ii) To the extent the incorporating unit has granted or
empowered a commission to take those actions otherwise required to
be taken by the incorporating unit by ordinance, a resolution of
the commission.
(g) "Township" means a township having a population over 100.