Bill Text: MI HB4226 | 2015-2016 | 98th Legislature | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Economic development; economic development corporations; certified technology park distinct geographic areas; increase. Amends sec. 12b of 1986 PA 281 (MCL 125.2162b).

Spectrum: Bipartisan Bill

Status: (Passed) 2015-07-21 - Assigned Pa 125'15 With Immediate Effect [HB4226 Detail]

Download: Michigan-2015-HB4226-Introduced.html

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HOUSE BILL No. 4226

 

February 24, 2015, Introduced by Reps. Garcia, Price, Victory, Heise, McCready, Jacobsen, Santana, Yanez, Singh, Schor, Brinks and Dillon and referred to the Committee on Commerce and Trade.

 

     A bill to amend 1986 PA 281, entitled

 

"The local development financing act,"

 

by amending section 12b (MCL 125.2162b), as added by 2008 PA 104.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 12b. A Through December 31, 2015, a municipality that has

 

created an authority in which a certified technology park has been

 

designated under this act may enter into an agreement with another

 

authority that does not contain a certified technology park to

 

designate a distinct geographic area within the authority district

 

as a certified technology park. The authority shall consider the

 

advantages of the unique characteristics and specialties offered by

 

the public and private resources available in the distinct

 

geographic area, shall consider the benefits to regional

 

cooperation and collaboration, and shall consider whether

 

designating the additional distinct geographic area adds value to

 

the mission of the designated certified technology park. The

 

distinct geographic area is subject to the provisions of section

 

12a(3), (4), and (5). The state treasurer shall not approve the

 

capture of amounts levied by the state under the state education

 

tax act, 1993 PA 331, MCL 211.901 to 211.906, and by local and

 

intermediate school districts as permitted in section 2(ee)(ii)(B)

 

2(jj)(ii)(B) for more than 3 9 distinct geographic areas designated

 

under this section. A copy of the designation shall be filed with

 

the Michigan economic development corporation.