Bill Text: MI SB0477 | 2011-2012 | 96th Legislature | Introduced
Bill Title: Economic development; economic development corporations; eligibility for property owned by a nonprofit foundation and located in a renaissance zone; extend. Amends sec. 4 of 1996 PA 376 (MCL 125.2684).
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2011-06-16 - Referred To Committee On Economic Development [SB0477 Detail]
Download: Michigan-2011-SB0477-Introduced.html
SENATE BILL No. 477
June 16, 2011, Introduced by Senator HANSEN and referred to the Committee on Economic Development.
A bill to amend 1996 PA 376, entitled
"Michigan renaissance zone act,"
by amending section 4 (MCL 125.2684), as amended by 2008 PA 116.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 4. (1) One or more qualified local governmental units may
apply to the review board to designate the qualified local
governmental unit or units as a renaissance zone if all of the
following criteria are met:
(a) The geographic area of the proposed renaissance zone is
located within the boundaries of the qualified local governmental
unit or units that apply.
(b) The application includes a development plan.
(c) The proposed renaissance zone is not more than 5,000 acres
in size.
(d) The renaissance zone does not contain more than 10
distinct geographic areas. Except as otherwise provided in this
subdivision, the minimum size of a distinct geographic area is not
less than 5 acres. A qualified local governmental unit or units may
designate not more than 8 distinct geographic areas in each
renaissance zone to have no minimum size requirement.
(e) The application includes the proposed duration of
renaissance zone status, not to exceed 15 years, except as
otherwise provided in this section.
(f) If the qualified local governmental unit has an elected
county executive, the county executive's written approval of the
application.
(g) If the qualified local governmental unit is a city, that
city's mayor's written approval of the application.
(2) A qualified local governmental unit may submit not more
than 1 application to the review board for designation as a
renaissance zone. A resolution provided by a city, village, or
township under section 7(2) does not constitute an application of a
city, village, or township for a renaissance zone under this act.
(3) For a distinct geographic area described in subsection
(1)(d), a village may include publicly owned land within the
boundaries of any distinct geographic area.
(4) Beginning December 1, 2006 through December 31, 2011, a
qualified local governmental unit or units in which a renaissance
zone was designated under section 8 or 8a(1) or (3) may designate
additional distinct geographic areas not to exceed a total of 10
distinct geographic areas upon application to and approval by the
board of the Michigan strategic fund if the distinct geographic
area is located in an eligible distressed area as defined in
section 11 of the state housing development authority act of 1966,
1966 PA 346, MCL 125.1411, or is contiguous to an eligible
distressed area, and if the additional distinct geographic area
will increase capital investment or job creation. The duration of
renaissance zone status for the additional distinct geographic
areas shall not exceed 15 years.
(5) Through December 31, 2002, if a qualified local
governmental unit or units designate additional distinct geographic
areas in a renaissance zone under subsection (4), the qualified
local governmental unit or units may extend the duration of the
renaissance zone status of 1 or more distinct geographic areas in
that renaissance zone until 2017 upon application to and approval
by the board.
(6) Through December 31, 2002, a qualified local governmental
unit or units in which a renaissance zone was designated under
section 8 or 8a may, upon application to and approval by the board,
seek to extend the duration of renaissance zone status until 2017.
Upon application, the board may extend the duration of renaissance
zone status.
(7) Through December 31, 2011, a qualified local governmental
unit or units in which a renaissance zone was designated under
section 8 or 8a(1) or (3) may, upon application to and approval by
the board of the Michigan strategic fund, seek to extend the
duration of renaissance zone status for 1 or more portions of the
renaissance zone if that zone or portion of a zone is in existence
as of March 15, 2008, if the extension will increase capital
investment or job creation, and the county in which the portion or
portions of the renaissance zone are located consents to extend the
duration of renaissance zone status. The board of the Michigan
strategic fund may extend renaissance zone status for 1 or more
portions of the renaissance zone under this subsection for a period
of time not to exceed 15 years from the date of the application to
the board of the Michigan strategic fund under this subsection.
However,
beginning on the effective date of the amendatory act that
added
this sentence, April 29, 2008,
if the board of the Michigan
strategic fund extends the duration of 1 or more portions of a
renaissance zone under this subsection, the board of the Michigan
strategic fund may revoke that extension if the board determines
that increased capital investment or job creation will not begin
within 1 year of the granting of the extension or otherwise
violates the terms of the written development agreement between the
owner of the real property and the board of the Michigan strategic
fund. Only the qualified local governmental unit that is requesting
the extension of time may submit the application. If the board of
the Michigan strategic fund extends the duration of 1 or more
portions of a renaissance zone, the board of the Michigan strategic
fund shall enter into a written development agreement with the
owner of all real property located within the boundaries of the
portions of the renaissance zone whose duration has been extended.
The written development agreement shall include, but is not limited
to, all of the following:
(a) The duration of the extension.
(b) The conditions under which the extension is granted.
(c) The amount of capital investment.
(d) The number of jobs to be created.
(e) Any other conditions or requirements reasonably required
by the board of the Michigan strategic fund.
(8) Through December 31, 2012, a qualified local governmental
unit or units in which a renaissance zone was designated by the
board under section 8a(1) in an urban area may, upon application to
and approval by the board, seek to extend the duration of
renaissance zone status for 1 or more portions of the renaissance
zone if that zone or portion of a zone was in existence in January
2003 and that zone or portion of a zone was owned by a nonprofit
entity. The board may extend renaissance zone status for 1 or more
portions of the renaissance zone under this subsection for a period
of time not to exceed 5 years from the date the current renaissance
zone status will terminate.
