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 House Tax Policy Committee. It is up to the full House to decide what happens next, but this is further progress than what happened to previous similar legislation during the 2016 lame duck session.
The House Tax Policy Committee did make some changes to the bills. The legislation now has a five-year sunset, and 35 percent of the approved plans must be located in communities with fewer than 100,000 people—likely additional assurance that the legislation benefit communities state-wide.
The legislation would amend the Brownfield Redevelopment Financing Act, Act 381 of 1996. More information about the details of the legislation is in the prior entry.