On April 27, 2017, the 2017 “MiThrive” legislation (Senate Bills 111, 112, 113, 114 and 115) amending the Brownfield Redevelopment Financing Act, Act 381 of 1996, which would allow for Transformational Brownfield Redevelopment Plans, was voted out of the House Tax Policy Committee. The legislation was approved by the House today, May 4, 2017. Changes to the legislation made by the House will now require approval of the Senate. The most recent change was to…

On February 24, 2017, a legislative summary and analysis was posted stating, “Michigan ‘TIF on Steroids’ is back” and that the fate of the 2017 legislation (Senate Bills 111, 112, 113, 114 and 115) providing for Transformational Brownfield Redevelopment Plans rested with the House Tax Policy Committee. Yesterday, April 26, 2017, on a 10-3 vote (six Republicans / four Democrats in favor, and three Republicans opposed), the legislation was reported out of the…

Michigan “TIF on Steroids” is back. Infrastructure, and the financing of it, have become hot topics both in Michigan and nationally. On December, 1, 2016 information was contributed about legislation expanding tax increment financing pursuant to Act 381 of 1996 for large “transformational” projects. Those bills did not pass in lame duck. Almost identical legislation was introduced on February 7 as Senate Bills 111, 112, 113, 114 and 115. These bills were reported out of…

For the second year in a row, Governor Rick Snyder has listed the proposed Soo Locks Modernization Project as a top priority in his State of the State address. Michigan’s top executive stated that he would urge President Donald Trump and Congress to commit to funding a second 1,000-foot lock in Sault Saint Marie. In support of his request, Snyder cites two reports: one on security issues and the other on the potential economic impact…

A group of bills (SB 1061, 1062, 1063, 1064 and 1065) have passed the Michigan State Senate and will now be taken up in the Michigan House. The amendments, affectionately called “TIF on steroids” by some, would expand current tax increment finance legislation in Act 381 of 1996 (the Brownfield Redevelopment Financing Act), to include the return of certain sales and use taxes and income taxes associated with a Transformational Brownfield Plan (“TBP”) to an…