Bill Text: MI HB5895 | 2019-2020 | 100th Legislature | Introduced
Bill Title: Economic development: brownfield redevelopment authority; definition and program changes for certain qualified facilities; provide for. Amends sec. 2 of 1996 PA 381 (MCL 125.2652).
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2020-06-24 - Bill Electronically Reproduced 06/23/2020 [HB5895 Detail]
Download: Michigan-2019-HB5895-Introduced.html
HOUSE BILL NO. 5895
June 23, 2020, Introduced by Rep. Meerman and
referred to the Committee on Local Government and Municipal Finance.
A bill to amend 1996 PA 381, entitled
"Brownfield redevelopment financing act,"
by amending section 2 (MCL 125.2652), as amended by 2018 PA 203.
the people of the state of michigan enact:
(a) "Authority"
means a brownfield redevelopment authority created under this act.
(b) "Baseline
environmental assessment" means that term as defined in part 201 or 213.
(c) "Blighted"
means property that meets any of the following criteria as determined by the
governing body:
(i) Has been declared a public nuisance in accordance with a
local housing, building, plumbing, fire, or other related code or ordinance.
(ii) Is an attractive
nuisance to children because of physical condition, use, or occupancy.
(iii) Is a fire hazard
or is otherwise dangerous to the safety of persons or property.
(iv) Has had the
utilities, plumbing, heating, or sewerage permanently disconnected, destroyed,
removed, or rendered ineffective so that the property is unfit for its intended
use.
(v) Is tax reverted
property owned by a qualified local governmental unit, by a county, or by this
state. The sale, lease, or transfer of tax reverted property by a qualified
local governmental unit, county, or this state after the property's inclusion
in a brownfield plan shall not result in the loss to the property of the status
as blighted property for purposes of this act.
(vi) Is property owned
by or under the control of a land bank fast track authority, whether or not
located within a qualified local governmental unit. Property included within a
brownfield plan prior to the date it meets the requirements of this subdivision
to be eligible property shall be considered to become eligible property as of
the date the property is determined to have been or becomes qualified as, or is
combined with, other eligible property. The sale, lease, or transfer of the
property by a land bank fast track authority after the property's inclusion in
a brownfield plan shall not result in the loss to the property of the status as
blighted property for purposes of this act.
(vii) Has substantial
buried subsurface demolition debris present so that the property is unfit for
its intended use.
(d) "Board" means the governing body of an
authority.
(e) "Brownfield plan" means a plan that meets the
requirements of section 13 and section 13b and is adopted under section 14.
(f) "Captured taxable value" means the amount in 1
year by which the current taxable value of an eligible property subject to a
brownfield plan, including the taxable value or assessed value, as appropriate,
of the property for which specific taxes are paid in lieu of property taxes,
exceeds the initial taxable value of that eligible property. The state tax
commission shall prescribe the method for calculating captured taxable value.
(g) "Chief executive officer" means the mayor of a
city, the village manager of a village, the township supervisor of a township,
or the county executive of a county or, if the county does not have an elected
county executive, the chairperson of the county board of commissioners.
(h) "Combined brownfield plan" means a brownfield
plan that also includes the information necessary to submit the plan to the
department or Michigan strategic fund under section 15(20).
(i) "Construction period tax capture revenues"
means funds equal to the amount of income tax levied and imposed in a calendar
year upon wages paid to individuals physically present and working within the
eligible property for the construction, renovation, or other improvement of
eligible property that is an eligible activity within a transformational
brownfield plan. As used in this subdivision, "wages" means that term
as defined in section 3401 of the internal revenue code of 1986, 26 USC 3401.
To calculate the amount of construction period tax capture revenues for a calendar
year under a transformational brownfield plan, the state treasurer shall do all
of the following:
(i) Require the owner
or developer of the eligible property to report the total taxable wages paid to
individuals for the construction, renovation, or other improvement of eligible
property that is an eligible activity within the transformational brownfield
plan. The wages reported under this subparagraph shall exclude any wages paid
to employees of the owner or developer.
(ii) Multiply the
amount under subparagraph (i) by the effective
rate as determined by the state treasurer at which the income tax is levied on
an individual in this state. The state treasurer shall estimate the effective
rate by taking into account the effect of any exemptions, additions, subtractions,
and credits allowable under part 1 of the income tax act of 1967, 1967 PA 281,
MCL 206.1 to 206.532. The state treasurer may require the owner or developer to
submit any information necessary for the calculation under this subparagraph.
(iii) The wage information
and other information required under this subdivision shall be provided to the
department of treasury by the owner or developer in a manner prescribed by the
state treasurer. The state treasurer may require the owner or developer to
provide a review or reconciliation of the wages by an independent auditing
firm.
(j) "Corrective action" means that term as defined
in part 111 or part 213.
(k) "Department" means the department of
environmental quality.
(l) "Department
specific activities" means baseline environmental assessments, due care
activities, response activities, and other environmentally related actions that
are eligible activities and are identified as a part of a brownfield plan that
are in addition to the minimum due care activities required by part 201,
including, but not limited to:
(i) Response
activities that are more protective of the public health, safety, and welfare
and the environment than required by section 20107a, 20114, or 21304c of the
natural resources and environmental protection act, 1994 PA 451, MCL
324.20107a, 324.20114, and 324.21304c.
(ii) Removal and
closure of underground storage tanks pursuant to part 211 or 213.
(iii) Disposal of solid
waste, as defined in part 115 of the natural resources and environmental
protection act, 1994 PA 451, MCL 324.11501 to 324.11554, from the eligible
property, provided it was not generated or accumulated by the authority or the
developer.
(iv) Dust control
related to construction activities.
(v) Removal and
disposal of lake or river sediments exceeding part 201 criteria from, at, or
related to an economic development project where the upland property is either
a facility or would become a facility as a result of the deposition of dredged
spoils.
(vi) Industrial
cleaning.
(vii) Sheeting and
shoring necessary for the removal of materials exceeding part 201 criteria at
projects requiring a permit pursuant to part 301, 303, or 325 of the natural
resources and environmental protection act, 1994 PA 451, MCL 324.30101 to
324.30113, MCL 324.30301 to 324.30328, or MCL 324.32501 to 324.32515a.
(viii) Lead, mold, or
asbestos abatement when lead, mold, or asbestos pose an imminent and
significant threat to human health.
(m) "Due care activities" means those response
activities identified as part of a brownfield plan that are necessary to allow
the owner or operator of an eligible property in the plan to comply with the
requirements of section 20107a or 21304c of the natural resources and
environmental protection act, 1994 PA 451, MCL 324.20107a and 324.21304c.
(n) "Economic opportunity zone" means 1 or more
parcels of property that meet all of the following:
(i) That together are
40 or more acres in size.
(ii) That contain or
contained a manufacturing operation that consists or consisted of 500,000 or
more square feet.
(iii) That are located
in a municipality that has a population of 30,000 or less and that is
contiguous to a qualified local governmental unit.
(o) "Eligible activities" or "eligible
activity" means 1 or more of the following:
(i) For all eligible
properties, eligible activities include all of the following:
(A) Department specific activities.
(B) Relocation of public buildings or operations for economic
development purposes.
(C) Reasonable costs of environmental insurance.
(D) Reasonable costs incurred to develop and prepare
brownfield plans, combined brownfield plans, or work plans for the eligible
property, including legal and consulting fees that are not in the ordinary
course of acquiring and developing real estate.
(E) Reasonable costs of brownfield plan and work plan
implementation, including, but not limited to, tracking and reporting of data
and plan compliance and the reasonable costs incurred to estimate and determine
actual costs incurred, whether those costs are incurred by a municipality,
authority, or private developer.
(F) Demolition of structures that is not a response activity,
including removal of manufactured debris comprised of discarded, unused, or
unusable manufactured by-products left on the site by a previous owner. The
removal of the manufactured by-products left on the site described in this
sub-subparagraph is not eligible for interest reimbursement under
sub-subparagraph (H).
(G) Lead, asbestos, or mold abatement.
(H) Except as otherwise provided in sub-subparagraph (F), the
repayment of principal of and interest on any obligation issued by an authority
to pay the costs of eligible activities attributable to an eligible property.
(ii) For eligible
properties located in a qualified local unit of government, or an economic
opportunity zone, or that is a former mill, eligible activities include:
(A) The activities described in subparagraph (i).
(B) Infrastructure improvements that directly benefit
eligible property.
(C) Site preparation that is not a response activity.
(iii) For eligible
properties that are owned by or under the control of a land bank fast track
authority, or a qualified local unit of government or authority, eligible
activities include:
(A) The eligible activities described in subparagraphs (i) and (ii).
(B) Assistance to a land bank fast track authority in
clearing or quieting title to, or selling or otherwise conveying, property
owned by or under the control of a land bank fast track authority or the acquisition
of property by the land bank fast track authority if the acquisition of the
property is for economic development purposes.
(C) Assistance to a qualified local governmental unit or
authority in clearing or quieting title to, or selling or otherwise conveying,
property owned by or under the control of a qualified local governmental unit
or authority or the acquisition of property by a qualified local governmental
unit or authority if the acquisition of the property is for economic
development purposes.
(iv) For eligible
activities on eligible property that is included in a transformational
brownfield plan, any demolition, construction, restoration, alteration,
renovation, or improvement of buildings or site improvements on eligible
property, including infrastructure improvements that directly benefit eligible
property.
(v) For eligible activities on eligible
property that is a qualified facility that is not located in a qualified local
governmental unit and that is a facility, functionally obsolete, or blighted,
the following additional activities:
(A) The activities described in subparagraph (i).
(B) Infrastructure improvements that directly benefit
eligible property.
(C) Site preparation that is not a response activity.
(p) "Eligible property" means, except as otherwise
provided in this subdivision, property for which eligible activities are
identified under a brownfield plan that was used or is currently used for
commercial, industrial, public, or residential purposes, including personal
property located on the property, to the extent included in the brownfield
plan, and that is 1 or more of the following:
(i) Is in a qualified
local governmental unit and is a facility or a site or property as those terms
are defined in part 213, historic resource, functionally obsolete, or blighted
and includes parcels that are adjacent or contiguous to that property if the
development of the adjacent and contiguous parcels is estimated to increase the
captured taxable value of that property.
(ii) Is not in a
qualified local governmental unit and is a facility, historic resource,
functionally obsolete, blighted, or a site or property as those terms are
defined in part 213, and includes parcels that are adjacent or contiguous to
that property if the development of the adjacent and contiguous parcels is
estimated to increase the captured taxable value of that property.
(iii) Is tax reverted
property owned by or under the control of a land bank fast track authority.
(iv) Is a
transit-oriented development or transit-oriented property.
(v) Is located in a
qualified local governmental unit and contains a targeted redevelopment area.
(vi) Is undeveloped
property that was eligible property in a previously approved brownfield plan
abolished under section 14(8).
(vii) Eligible property
does not include qualified agricultural property exempt under section 7ee of
the general property tax act, 1893 PA 206, MCL 211.7ee, from the tax levied by
a local school district for school operating purposes to the extent provided
under section 1211 of the revised school code, 1976 PA 451, MCL 380.1211.
(q) "Environmental insurance" means liability
insurance for environmental contamination and cleanup that is not otherwise
required by state or federal law.
(r) "Facility" means that term as defined in part
201.
(s) "Fiscal year" means the fiscal year of the
authority.
(t) "Former mill" means a former mill that has not
been used for industrial purposes for the immediately preceding 2 years, that
is not located in a qualified local governmental unit, that is a facility or is
a site or a property as those terms are defined in part 213, functionally
obsolete, or blighted, and that is located within 15 miles of a river that is a
federal superfund site listed under the comprehensive environmental response,
compensation and liability act of 1980, 42 USC 9601 to 9675, and that is
located in a municipality with a population of less than 10,000.
(u) "Functionally obsolete" means that the property
is unable to be used to adequately perform the function for which it was
intended due to a substantial loss in value resulting from factors such as
overcapacity, changes in technology, deficiencies or superadequacies in design,
or other similar factors that affect the property itself or the property's
relationship with other surrounding property.
(v) "Governing body" means the elected body having
legislative powers of a municipality creating an authority under this act.
(w) "Historic resource" means that term as defined
in section 90a of the Michigan strategic fund act, 1984 PA 270, MCL 125.2090a.
(x) "Income tax" means the tax levied and imposed
under part 1 of the income tax act of 1967, 1967 PA 281, MCL 206.1 to 206.532.
(y) "Income tax capture revenues" means funds equal
to the amount for each tax year by which the aggregate income tax from
individuals domiciled within the eligible property subject to a
transformational brownfield plan exceeds the initial income tax value. The
state treasurer shall calculate annually the income tax capture revenues
associated with each transformational brownfield plan. In calculating income
tax capture revenues, the state treasurer shall subtract from the aggregate
amount of income tax credits under sections 255, 265, 266, and chapter 9 of the
income tax act of 1967, 1967 PA 281, MCL 206.255, 206.265, 206.266, and 206.501
to 206.532. The state treasurer shall require the owner or developer of the
eligible property to provide to the department of treasury all of the following
information at the end of each calendar year, including the year in which the
resolution adding that eligible property in the transformational brownfield
plan is adopted:
(i) A list of
individuals domiciled within the eligible property.
(ii) The addresses of
those individuals identified in subparagraph (i).
(iii) Any other
information that may be necessary to calculate the income tax capture revenues.
The information required under this subdivision shall be provided in a manner
prescribed by the state treasurer.
(z) "Industrial cleaning" means cleaning or removal
of contaminants from within a structure necessary to achieve the intended use
of the property.
(aa) "Infrastructure improvements" means a street,
road, sidewalk, parking facility, pedestrian mall, alley, bridge, sewer, sewage
treatment plant, property designed to reduce, eliminate, or prevent the spread
of identified soil or groundwater contamination, drainage system, waterway,
waterline, water storage facility, rail line, utility line or pipeline,
transit-oriented development, transit-oriented property, or other similar or
related structure or improvement, together with necessary easements for the structure
or improvement, owned or used by a public agency or functionally connected to
similar or supporting property owned or used by a public agency, or designed
and dedicated to use by, for the benefit of, or for the protection of the
health, welfare, or safety of the public generally, whether or not used by a
single business entity, provided that any road, street, or bridge shall be
continuously open to public access and that other property shall be located in
public easements or rights-of-way and sized to accommodate reasonably
foreseeable development of eligible property in adjoining areas. Infrastructure
improvements also include 1 or more of the following whether publicly or
privately owned or operated or located on public or private property:
(i) Underground
parking.
(ii) Multilevel
parking structures.
(iii) Urban stormwater
management systems.
(bb) "Initial income tax value" means the aggregate
amount of income tax less credits under sections 255, 265, 266, and chapter 9
of the income tax act of 1967, 1967 PA 281, MCL 206.255, 206.265, 206.266, and
206.501 to 206.532, from individuals domiciled within the eligible property
subject to a transformational brownfield plan for the tax year in which the
resolution adding that eligible property in the transformational brownfield
plan is adopted.
(cc) "Initial taxable value" means the taxable
value of an eligible property identified in and subject to a brownfield plan at
the time the resolution adding that eligible property in the brownfield plan is
adopted, as shown either by the most recent assessment roll for which
equalization has been completed at the time the resolution is adopted or, if
provided by the brownfield plan, by the next assessment roll for which
equalization will be completed following the date the resolution adding that
eligible property in the brownfield plan is adopted. Property exempt from
taxation at the time the initial taxable value is determined shall be included
with the initial taxable value of zero. Property for which a specific tax is
paid in lieu of property tax shall not be considered exempt from taxation. The
state tax commission shall prescribe the method for calculating the initial
taxable value of property for which a specific tax was paid in lieu of property
tax. The initial assessed value may be modified by lowering the initial
assessed value once during the term of the brownfield plan through an amendment
as provided in section 14 after the tax increment financing plan fails to
generate captured assessed value for 3 consecutive years due to declines in
assessed value.
(dd) "Initial withholding tax value" means the
amount of income tax withheld under part 3 of the income tax act of 1967, 1967
PA 281, MCL 206.701 to 206.713, from individuals employed within the eligible
property subject to a transformational brownfield plan for the calendar year in
which the resolution adding the eligible property to the plan is adopted. For
purposes of this act, an individual is employed within the eligible property if
the eligible property is the individual's principal place of employment. The
initial withholding tax value shall not include construction period tax capture
revenues.
(ee) "Land bank fast track authority" means an
authority created under the land bank fast track act, 2003 PA 258, MCL 124.751
to 124.774.
(ff) "Local taxes" means all taxes levied other
than taxes levied for school operating purposes.
(gg) "Michigan strategic fund" means the Michigan
strategic fund created under the Michigan strategic fund act, 1984 PA 270, MCL
125.2001 to 125.2094.
(hh) "Mixed-use" means a real estate project with
planned integration of some combination of retail, office, residential, or
hotel uses.
(ii) "Municipality" means all of the following:
(i) A city.
(ii) A village.
(iii) A township in
those areas of the township that are outside of a village.
(iv) A township in
those areas of the township that are in a village upon the concurrence by
resolution of the village in which the zone would be located.
(v) A county.
(jj) "Owned by or under the control of" means that
a land bank fast track authority or a qualified local unit of government has 1
or more of the following:
(i) An ownership
interest in the property.
(ii) A tax lien on the
property.
(iii) A tax deed to the
property.
(iv) A contract with
this state or a political subdivision of this state to enforce a lien on the
property.
(v) A right to
collect delinquent taxes, penalties, or interest on the property.
(vi) The ability to
exercise its authority over the property.
(kk) "Part 111", "part 201", "part
211", or "part 213" means that part as described as follows:
(i) Part 111 of the
natural resources and environmental protection act, 1994 PA 451, MCL 324.11101
to 324.11153.
(ii) Part 201 of the
natural resources and environmental protection act, 1994 PA 451, MCL 324.20101
to 324.20142.
(iii) Part 211 of the
natural resources and environmental protection act, 1994 PA 451, MCL 324.21101
to 324.21113.
(iv) Part 213 of the
natural resources and environmental protection act, 1994 PA 451, MCL 324.21301a
to 324.21334.
(ll) "Qualified facility" means a
landfill facility area of 140 or more contiguous acres that is located in a
city and that contains or contained a landfill, a material recycling facility,
and an asphalt plant that are no longer in operation.
(mm) (ll) "Qualified
local governmental unit" means that term as defined in the obsolete
property rehabilitation act, 2000 PA 146, MCL 125.2781 to 125.2797.
(nn) (mm) "Qualified taxpayer" means that term
as defined in sections 38d and 38g of former 1975 PA 228, or section 437 of the
Michigan business tax act, 2007 PA 36, MCL 208.1437, or a recipient of a
community revitalization incentive as described in section 90a of the Michigan
strategic fund act, 1984 PA 270, MCL 125.2090a.
(oo) (nn) "Release" means that term as defined
in part 201 or part 213.
(pp) (oo) "Response activity" means either of
the following:
(i) Response activity
as that term is defined in part 201.
(ii) Corrective
action.
(qq) (pp) "Specific taxes" means a tax levied
under 1974 PA 198, MCL 207.551 to 207.572; the commercial redevelopment act,
1978 PA 255, MCL 207.651 to 207.668; the enterprise zone act, 1985 PA 224, MCL
125.2101 to 125.2123; 1953 PA 189, MCL 211.181 to 211.182; the technology park
development act, 1984 PA 385, MCL 207.701 to 207.718; the obsolete property
rehabilitation act, 2000 PA 146, MCL 125.2781 to 125.2797; the neighborhood
enterprise zone act, 1992 PA 147, MCL 207.771 to 207.786; the commercial
rehabilitation act, 2005 PA 210, MCL 207.841 to 207.856; or that portion of the
tax levied under the tax reverted clean title act, 2003 PA 260, MCL 211.1021 to
211.1025a, that is not required to be distributed to a land bank fast track
authority.
(rr) (qq) "State brownfield redevelopment fund"
means the state brownfield redevelopment fund created in section 8a.
(ss) (rr) "Targeted redevelopment area" means
not fewer than 40 and not more than 500 contiguous parcels of real property
located in a qualified local governmental unit and designated as a targeted
redevelopment area by resolution of the governing body and approved by the
Michigan strategic fund. A qualified local governmental unit is limited to
designating no more than 2 targeted redevelopment areas for the purposes of
this section in a calendar year. The Michigan strategic fund may approve no
more than 5 targeted redevelopment areas for the purposes of this section in a
calendar year.
(tt) (ss) "Tax increment revenues" means the
amount of ad valorem property taxes and specific taxes attributable to the
application of the levy of all taxing jurisdictions upon the captured taxable
value of each parcel of eligible property subject to a brownfield plan and
personal property located on that property, regardless of whether those taxes
began to be levied after the brownfield plan was adopted. Tax increment
revenues do not include any of the following:
(i) Ad valorem
property taxes specifically levied for the payment of principal of and interest
on either obligations approved by the electors or obligations pledging the
unlimited taxing power of the local governmental unit, and specific taxes
attributable to those ad valorem property taxes.
(ii) For tax increment
revenues attributable to eligible property also exclude the amount of ad
valorem property taxes or specific taxes captured by a downtown development
authority under 1975 PA 197, MCL 125.1651 to 125.1681, tax increment finance
authority under the tax increment finance authority act, 1980 PA 450, MCL
125.1801 to 125.1830, corridor improvement authority, under the corridor
improvement authority act, 2005 PA 280, MCL 125.2871 to 125.2899, or local
development finance authority under the local development financing act, 1986
PA 281, MCL 125.2151 to 125.2174, if those taxes were captured by these other
authorities on the date that eligible property became subject to a brownfield
plan under this act.
(iii) Ad valorem
property taxes levied under 1 or more of the following or specific taxes
attributable to those ad valorem property taxes:
(A) The zoological authorities act, 2008 PA 49, MCL 123.1161
to 123.1183.
(B) The art institute authorities act, 2010 PA 296, MCL
123.1201 to 123.1229.
(uu) (tt) "Taxable value" means the value
determined under section 27a of the general property tax act, 1893 PA 206, MCL
211.27a.
(vv) (uu) "Taxes levied for school operating
purposes" means all of the following:
(i) The taxes levied
by a local school district for operating purposes.
(ii) The taxes levied
under the state education tax act, 1993 PA 331, MCL 211.901 to 211.906.
(iii) That portion of
specific taxes attributable to taxes described under subparagraphs (i) and (ii).
(ww) (vv) "Transformational brownfield plan"
means a brownfield plan that meets the requirements of section 13c and is
adopted under section 14a and, as designated by resolution of the governing
body and approved by the Michigan strategic fund, will have a transformational
impact on local economic development and community revitalization based on the
extent of brownfield redevelopment and growth in population, commercial
activity, and employment that will result from the plan. To be designated a
transformational brownfield plan, a transformational brownfield plan under this
subdivision shall be for mixed-use development and shall be expected to result
in the following levels of capital investment:
(i) In a municipality
that is not a county and that has a population of at least 600,000,
$500,000,000.00.
(ii) In a municipality
that is not a county and that has a population of at least 150,000 and not more
than 599,999, $100,000,000.00.
(iii) In a municipality
that is not a county and that has a population of at least 100,000 and not more
than 149,999, $75,000,000.00.
(iv) In a municipality
that is not a county and that has a population of at least 50,000 and not more
than 99,999, $50,000,000.00.
(v) In a municipality
that is not a county and that has a population of at least 25,000 and not more
than 49,999, $25,000,000.00.
(vi) In a municipality
that is not a county and that has a population of less than 25,000,
$15,000,000.00.
(xx) (ww) "Transit-oriented development" means
infrastructure improvements that are located within 1/2 mile of a transit
station or transit-oriented property that promotes transit ridership or
passenger rail use as determined by the board and approved by the municipality
in which it is located.
(yy) (xx) "Transit-oriented property" means
property that houses a transit station in a manner that promotes transit
ridership or passenger rail use.
(zz) (yy) "Withholding tax capture revenues"
means the amount for each calendar year by which the income tax withheld under
part 3 of the income tax act of 1967, 1967 PA 281, MCL 206.701 to 206.713, from
individuals employed within the eligible property subject to a transformational
brownfield plan exceeds the initial withholding tax value. Withholding tax
capture revenues shall not include income tax from individuals domiciled within
the eligible property or construction period tax capture revenues. To calculate
withholding tax capture revenues for a calendar year under a transformational
brownfield plan, the state treasurer or the Michigan strategic fund shall do
all of the following:
(i) The state
treasurer shall require the owner or developer of the eligible property to
provide the department of treasury with notice not more than 10 days from the
date an employer commences or terminates occupancy within the eligible
property. As used in this subdivision, "employer" means that term as
defined in section 8 of the income tax act of 1967, 1967 PA 281, MCL 206.8.
(ii) The state
treasurer shall develop methods and processes that are necessary for each
employer occupying the eligible property to report the amount of withholding
under part 3 of the income tax act of 1967, 1967 PA 281, MCL 206.701 to
206.713, from individuals employed within the eligible property.
(iii) The Michigan
strategic fund shall include the following provisions in the development or
reimbursement agreement for any transformational brownfield plan that utilizes
withholding tax capture revenues:
(A) That the owner or developer of the eligible property
shall require each employer occupying the eligible property to comply with the
reporting requirements under this section through a contract requirement, lease
requirement, or other such means.
(B) That reimbursement of withholding tax capture revenues is
limited to amounts that are reported in accordance with part 3 of the income
tax act of 1967, 1967 PA 281, MCL 206.701 to 206.713, and this state has no
obligation with respect to withholding tax capture revenues that are not
reported or paid.
(aaa) (zz) "Work plan" means a plan that
describes each individual activity to be conducted to complete eligible
activities and the associated costs of each individual activity.
(bbb) (aaa) "Zone"
means, for an authority established before June 6, 2000, a brownfield
redevelopment zone designated under this act.
