SB-0112, As Passed House, May 4, 2017

HOUSE SUBSTITUTE FOR

SENATE BILL NO. 112

     A bill to amend 1967 PA 281, entitled

"Income tax act of 1967,"

(MCL 206.1 to 206.713) by adding section 51e.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

     Sec. 51e. In addition to the distribution under sections 51

and 51d, from the revenue collected from the tax levied under

section 51 an amount equal to the construction period tax capture

revenues, withholding tax capture revenues, and income tax capture

revenues due to be transmitted under all transformational

brownfield plans adopted under the brownfield redevelopment

financing act, 1996 PA 381, MCL 125.2651 to 125.2672, shall be

deposited each state fiscal year into the state brownfield

redevelopment fund created in section 8a of the brownfield

Senate Bill No. 112 as amended May 3, 2017

redevelopment financing act, 1996 PA 381, MCL 125.2658a. As used in

this section, "construction period tax capture revenues", "income

tax capture revenues", and "withholding tax capture revenues" mean

those terms as defined in section 2 of the brownfield redevelopment

financing act, 1996 PA 381, MCL 125.2652.

[Enacting section 1. This amendatory act takes effect 45 days after the date it is enacted into law.]