HB-5998, As Passed House, September 23, 2010
March 25, 2010, Introduced by Reps. Nathan, Byrnes, Liss, Donigan, Wayne Schmidt and Stanley and referred to the Committee on Intergovernmental and Regional Affairs.
A bill to amend 1974 PA 338, entitled
"Economic development corporations act,"
by amending section 3 (MCL 125.1603), as amended by 1985 PA 154.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 3. As used in this act:
(a) "Corporation" means a corporation organized pursuant to
this act.
(b) "Employee-owned corporation" means an employee-owned
corporation as defined by the employee-owned corporation act.
(c) "Governing body" means the body in which the legislative
powers of a municipality are vested.
(d) "Municipality" means a county, city, village, or township.
(e) "Local public agency" means the official body of a
municipality authorized to plan and implement the development and
redevelopment of the municipality.
(f) "Project" means land or an interest in land, existing or
planned improvements, machinery, furnishings, or equipment suitable
for use by any of the following:
(i) An industrial or commercial enterprise, including
agricultural and forestry enterprises and enterprises designed to
produce
energy from renewable resources. Projects of such an
enterprise may include any of the following:
(A) Necessary buildings, improvements, or structures suitable
for and intended for or incidental to use as an industrial or
commercial enterprise.
(B) Industrial park or industrial site improvements or port
improvements.
(C) A replacement housing project incidental to an industrial
or commercial enterprise.
(D) The machinery, furnishings, leasehold improvements, or
equipment necessary, suitable, intended for or incidental to a
commercial, industrial, or residential use in connection with the
buildings, improvements, or structures.
(E) Machinery, furnishings, leasehold improvements, or
equipment, including pollution control facilities, to be installed
or used primarily within a project area.
(ii) An enterprise in relation to a housing and neighborhood
improvement program, which program involves either the clearing of
land or the rehabilitation or construction of housing for the
immediate
sale of single family single-family
or multi-family
multifamily units at fair market value, or both. Housing and
neighborhood improvement programs identified by this subparagraph
shall constitute a project for purposes of this subparagraph if the
area in which these improvement programs are to be undertaken are
located in, or are eligible to be included in, blighted or
redevelopment
areas identified pursuant to Act No. 344 of the
Public
Acts of 1945, as amended, being sections 125.71 to 125.84 of
the
Michigan Compiled Laws 1945 PA 344, MCL 125.71 to 125.84; the
urban
redevelopment corporations law, Act No. 250 of the Public
Acts
of 1941, as amended, being sections 125.901 to 125.922 of the
Michigan Compiled Laws 1941 PA 250, MCL 125.901 to 125.922; Act No.
197
of the Public Acts of 1975, as amended, being sections 125.1651
to
125.1680, of the Michigan Compiled Laws 1975 PA 197, MCL
125.1651 to 125.1681, or the tax increment finance authority act,
Act
No. 450 of the Public Acts of 1980, being sections 125.1801 to
125.1828
of the Michigan Compiled Laws 1980 PA 450, MCL 125.1801 to
125.1830.
(iii) A transit-oriented development.
(iv) A transit-oriented facility.
(g) "Project area" means that land area or an interest in a
land area within the municipality which will be acquired in the
implementation of a project or which will be the permanent site of
machinery, furnishings, or equipment constituting all or part of a
project.
(h) "Project citizens district council" means a project
citizens district council established pursuant to this act.
(i) "Project cost" or "costs" means the cost of purchasing,
acquiring, constructing, improving, enlarging, extending, or
repairing a project. Project cost or costs includes any
engineering, architectural, legal, accounting, financial, and other
expenses incidental to the purchasing, acquiring, constructing,
improving, enlarging, extending, or repairing of a project. Project
cost or costs also includes the interest on the bonds and other
obligations issued to pay project costs during the period of
construction and after the period of construction until sufficient
revenues have developed. Project cost or costs also includes a
reserve or addition to a reserve for payment of principal and
interest on the bonds and the amount required for operation and
maintenance until sufficient revenues have developed.
(j) "Project district area" means that portion of a
municipality and any area adjacent to a municipality, as determined
by its governing body, which contains a project area and the
surrounding territory that will be significantly affected by a
project.
(k) "Project plan" means that information and those
requirements for a project set forth in section 8.
(l) "Pollution control facilities" means water or air pollution
control equipment or solid waste disposal facilities located within
or without the limits of the municipality.
(m) "Solid waste disposal facilities" means buildings, plants,
structures, equipment, or facilities and their appurtenances,
together with land or an interest in land or a portion of land, for
the purpose of treating, shredding, compression, high temperature
incineration, pyrolization, separation, or any other technology for
recovery, transporting, storing, or the final placement and
disposal of solid wastes resulting from any process of industry,
manufacture, trade, or business, from the development, processing,
or recovery of any natural resources, or from the operation of any
public utility. Solid waste disposal facilities includes buildings,
plants, structures, equipment, or facilities and their
appurtenances, together with land or an interest in land or a
portion of land, which qualify as solid waste disposal facilities
under section 103(b)(4) of the internal revenue code.
(n) "Transit-oriented development" means infrastructure
improvements that are located within 1/2 mile of a transit station
or transit-oriented facility that promotes transit ridership or
passenger rail use.
(o) "Transit-oriented facility" means a facility that houses a
transit station in a manner that promotes transit ridership or
passenger rail use.
(p) (n)
"Water and air pollution
control equipment" means
buildings, plants, structures, equipment, or facilities and their
appurtenances, together with land or an interest in land or a
portion of land, for the purpose of controlling, eliminating,
recovering, removing, reducing, dispersing, treating, or
neutralizing atmospheric or water pollutants, including liquid,
gaseous, or solid substances or discharges or radiation, or cooling
the temperature of atmospheric or water pollutants, or any liquid,
gas, or solid, resulting from any process of industry, manufacture,
trade, or business; the development, processing, or recovery of any
natural resources; or the operation of any public utility, any of
which may pollute or may tend to pollute or affect the water or air
of this state or adjacent to this state. Water and air pollution
control equipment includes buildings, plants, structures,
facilities, and equipment and their appurtenances, together with
land or an interest in land or a portion of land, used or to be
used as a change in a manufacturing, production, generation,
transmission, or distribution process to prevent, reduce, recover,
remove, disperse, neutralize, control, or eliminate air or water
pollution. Water and air pollution control equipment includes
buildings, plants, structures, equipment, or facilities and their
appurtenances, together with land or an interest in land or a
portion of land, which qualify as air or water pollution control
facilities under section 103(b)(4) of the internal revenue code.