SB-1015, As Passed Senate, June 8, 2010

SUBSTITUTE FOR

SENATE BILL NO. 1015

     A bill to amend 2003 PA 258, entitled

"Land bank fast track act,"

by amending section 2 (MCL 124.752).

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

     Sec. 2. The legislature finds that there exists in this state

a continuing need to strengthen and revitalize the economy of this

state and local units of government in this state and that it is in

the best interests of this state and local units of government in

this state to assemble or dispose of public property, including tax

reverted property, in a coordinated manner to foster the

development of that property, and to promote economic growth in

this state and local units of government in this state, and to

promote urban agriculture in compliance with local ordinances. It

is declared to be a valid public purpose for a land bank fast track

authority created under this act to acquire, assemble, dispose of,

and quiet title to property under this act. It is further declared

to be a valid public purpose for a land bank fast track authority

created under this act to provide for the financing of the

acquisition, assembly, disposition, and quieting of title to

property, and for a land bank fast track authority to exercise

other powers granted to a land bank fast track authority under this

act. The legislature finds that a land bank fast track authority

created under this act and powers conferred by this act constitute

a necessary program and serve a necessary public purpose.