reglab/housing_qa huggingface dataset:
MI Comp L § 125.4409 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)|57-2018-4 - Part 4 Local Development Finance Authorities (125.4401...125.4420)|Section 125.4409 - Taking, Transfer, and Use of Private Property.

125.4409 Taking, transfer, and use of private property.Sec. 409.  A municipality may take private property under the uniform condemnation procedures act, 1980 PA 87, MCL 213.51 to 213.75, for the purpose of transfer to the authority, and may transfer the property to the authority for use as authorized in the development plan, on terms and conditions it considers appropriate. The taking, transfer, and use shall be considered necessary for public purposes and for the benefit of the public. History: 2018, Act 57, Eff. Jan. 1, 2019
MI Comp L § 125.4410 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)|57-2018-4 - Part 4 Local Development Finance Authorities (125.4401...125.4420)|Section 125.4410 - Financing Activities of Authority.

125.4410 Financing activities of authority.Sec. 410.  The activities of the authority shall be financed from 1 or more of the following sources:  (a) Contributions to the authority for the performance of its functions.  (b) Revenues from any property, building, or facility owned, leased, licensed, or operated by the authority or under its control, subject to the limitations imposed upon the authority by trusts or other agreements.  (c) Tax increment revenues received pursuant to a tax increment financing plan established under sections 412 to 414.  (d) Proceeds of tax increment bonds issued pursuant to section 414.  (e) Proceeds of revenue bonds issued pursuant to section 411.  (f) Money obtained from any other legal source approved by the governing body of the municipality or otherwise authorized by law for use by the authority or the municipality to finance a development program.  (g) Money obtained pursuant to section 411a.  (h) Loans from the Michigan strategic fund or the Michigan economic development corporation. History: 2018, Act 57, Eff. Jan. 1, 2019
MI Comp L § 125.4411 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)|57-2018-4 - Part 4 Local Development Finance Authorities (125.4401...125.4420)|Section 125.4411 - Revenue Bonds.

125.4411 Revenue bonds.Sec. 411.  (1) The authority may borrow money and issue its negotiable revenue bonds pursuant to the revenue bond act of 1933, 1933 PA 94, MCL 141.101 to 141.135. Except as provided in subsection (2), revenue bonds issued by the authority shall not be considered a debt of the municipality or of the state.  (2) The municipality by a majority vote of the members of its governing body may make a limited tax pledge to support the authority's revenue bonds or, if authorized by the voters of the municipality, may pledge its full faith and credit to support the authority's revenue bonds. History: 2018, Act 57, Eff. Jan. 1, 2019
MI Comp L § 125.4412d (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)|57-2018-4 - Part 4 Local Development Finance Authorities (125.4401...125.4420)|Section 125.4412d - Conveyance or Lease of Public Facilities at Less Than Fair Market Value or Below Market Rates.

125.4412d Conveyance or lease of public facilities at less than fair market value or below market rates.Sec. 412d.  (1) If an authority determines that a sale price or rental value at below market rate will assist in increasing employment or private investment in a development area, the authority may determine a sale price or rental value for public facilities owned or developed by the authority at below market rate.   (2) If public facilities are conveyed or leased at less than fair market value or at below market rates, the terms of the conveyance or lease shall include legal and equitable remedies and rights to assure that the public facilities are used as eligible property. Legal and equitable remedies and rights may include penalties and actual or liquidated damages. If public facilities for public benefit are provided to private owners or users of eligible property, the terms of the conveyance or lease shall include a benefit to the private owner or user. History: 2018, Act 57, Eff. Jan. 1, 2019
MI Comp L § 125.4412e (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)|57-2018-4 - Part 4 Local Development Finance Authorities (125.4401...125.4420)|Section 125.4412e - Notice of Designation of Next Michigan Development Area; Marketing of Authority District by Michigan Economic Development Corporation; Pledge to Support Tax Increment Bonds.

125.4412e Notice of designation of Next Michigan development area; marketing of authority district by Michigan economic development corporation; pledge to support tax increment bonds.Sec. 412e.  (1) A Next Michigan development corporation establishing an authority under section 403(3) shall notify the Michigan economic development corporation of the designation of a Next Michigan development area.  (2) The Michigan economic development corporation shall market the authority district including Next Michigan development areas.  (3) For an authority exercising its powers under section 403(3), each municipality and county which is a party to the interlocal agreement establishing the Next Michigan development corporation, or any 1 of them, by a majority vote of the members of its governing body, may make a limited tax pledge to support the authority's tax increment bonds issued under section 414 or, if authorized by the voters of the municipality or county, may pledge its full faith and credit for the payment of the principal of and interest on the bonds. The municipalities or counties that have made a pledge to support the authority's tax increment bonds may approve by resolution an agreement among themselves establishing obligations each may have to the other party or parties to the agreement for reimbursement of all or any portion of a payment made by a municipality or county related to its pledge to support the authority's tax increment bonds. History: 2018, Act 57, Eff. Jan. 1, 2019
MI Comp L § 125.4413 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)|57-2018-4 - Part 4 Local Development Finance Authorities (125.4401...125.4420)|Section 125.4413 - Tax Increment Revenues Transmitted to Authority; Expenditure of Tax Increment Revenues; Retention or Reversion of Excess Revenue; Prohibition; Abolition of Tax Increment Financing Plan.

125.4413 Tax increment revenues transmitted to authority; expenditure of tax increment revenues; retention or reversion of excess revenue; prohibition; abolition of tax increment financing plan.Sec. 413.  (1) The city, village, township, school district, and county treasurers shall transmit to the authority tax increment revenues.  (2) The authority shall expend the tax increment revenues received for the development program only in accordance with the tax increment financing plan. Tax increment revenues in excess of the estimated tax increment revenues or of the actual costs of the plan to be paid by the tax increment revenues may be retained by the authority only for purposes, that by resolution of the board, are determined to further the development program in accordance with the tax increment financing plan. The excess tax increment revenues not so used shall revert proportionately to the respective taxing jurisdictions. These revenues shall not be used to circumvent existing property tax laws or a local charter that provides a maximum authorized rate for the levy of property taxes. The governing body may abolish the tax increment financing plan if it finds that the purposes for which the plan was established are accomplished. However, the tax increment financing plan may not be abolished, allowed to expire, or otherwise terminate until the principal of, and interest on, bonds issued pursuant to section 414 have been paid or funds sufficient to make that payment have been segregated and placed in an irrevocable trust for the benefit of the holders of the bonds. History: 2018, Act 57, Eff. Jan. 1, 2019
MI Comp L § 125.4414 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)|57-2018-4 - Part 4 Local Development Finance Authorities (125.4401...125.4420)|Section 125.4414 - Tax Increment Bonds; Qualified Refunding Obligation.

125.4414 Tax increment bonds; qualified refunding obligation.Sec. 414.  (1) By resolution of its board and subject to the limitations set forth in this section, the authority may authorize, issue, and sell its tax increment bonds to finance a development program. The bonds are subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821. The authority may pledge for debt service requirements the tax increment revenues to be received from an eligible property. The bonds issued under this section shall be considered a single series for the purposes of the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821.  (2) The municipality by majority vote of the members of its governing body may make a limited tax pledge to support the authority's tax increment bonds or, if authorized by the voters of the municipality, pledge its full faith and credit for the payment of the principal of and interest on the authority's tax increment bonds. The municipality may pledge as additional security for the bonds any money received by the authority or the municipality pursuant to section 410.  (3) Bonds and notes issued by the authority and the interest on and income from those bonds and notes are exempt from taxation by the state or a political subdivision of this state.  (4) Notwithstanding any other provision of this part, if the state treasurer determines that an authority or municipality can issue a qualified refunding obligation and the authority or municipality does not make a good-faith effort to issue the qualified refunding obligation as determined by the state treasurer, the state treasurer may reduce the amount claimed by the authority or municipality under section 411a by an amount equal to the net present value saving that would have been realized had the authority or municipality refunded the obligation or the state treasurer may require a reduction in the capture of tax increment revenues from taxes levied by a local or intermediate school district or this state by an amount equal to the net present value saving that would have been realized had the authority or municipality refunded the obligation. This subsection does not authorize the state treasurer to require the authority or municipality to pledge security greater than the security pledged for the obligation being refunded. History: 2018, Act 57, Eff. Jan. 1, 2019
MI Comp L § 125.4416 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)|57-2018-4 - Part 4 Local Development Finance Authorities (125.4401...125.4420)|Section 125.4416 - Adoption of Resolution Approving Development Plan or Tax Increment Financing Plan; Public Hearing; Notice; Record.

125.4416 Adoption of resolution approving development plan or tax increment financing plan; public hearing; notice; record.Sec. 416.  (1) Before adoption of a resolution approving or amending a development plan or approving or amending a tax increment financing plan, the governing body shall hold a public hearing on the development plan. Notice of the time and place of the hearing shall be given by publication twice in a newspaper of general circulation designated by the municipality, the first of which shall not be less than 20 days before the date set for the hearing. Beginning June 1, 2005, the notice of hearing within the time frame described in this subsection shall be mailed by certified mail to the governing body of each taxing jurisdiction levying taxes that would be subject to capture if the development plan or the tax increment financing plan is approved or amended.   (2) Notice of the time and place of hearing on a development plan shall contain the following:  (a) A description of the property to which the plan applies in relation to highways, streets, streams, or otherwise.  (b) A statement that maps, plats, and a description of the development plan, including the method of relocating families and individuals who may be displaced from the area, are available for public inspection at a place designated in the notice, and that all aspects of the development plan will be open for discussion at the public hearing.  (c) Other information that the governing body considers appropriate.  (3) At the time set for hearing, the governing body shall provide an opportunity for interested persons to be heard and shall receive and consider communications in writing with reference to the matter. The hearing shall provide the fullest opportunity for expression of opinion, for argument on the merits, and for introduction of documentary evidence pertinent to the development plan. The governing body shall make and preserve a record of the public hearing, including all data presented at that time. History: 2018, Act 57, Eff. Jan. 1, 2019
MI Comp L § 125.4418 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)|57-2018-4 - Part 4 Local Development Finance Authorities (125.4401...125.4420)|Section 125.4418 - Relocation of Person; Notice to Vacate.

125.4418 Relocation of person; notice to vacate.Sec. 418.  A person to be relocated under this part shall be given not less than 90 days' written notice to vacate unless modified by court order for good cause. History: 2018, Act 57, Eff. Jan. 1, 2019
MI Comp L § 125.4419 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)|57-2018-4 - Part 4 Local Development Finance Authorities (125.4401...125.4420)|Section 125.4419 - Preparation and Submission of Budget; Manner; Approval; Cost of Handling and Auditing Funds.

125.4419 Preparation and submission of budget; manner; approval; cost of handling and auditing funds.Sec. 419.  (1) The director of the authority shall prepare and submit for the approval of the board a budget for the operation of the authority for the ensuing fiscal year. The budget shall be prepared in the manner and contain the information required of municipal departments. Before the budget may be adopted by the board, it shall be approved by the governing body. Funds of the municipality shall not be included in the budget of the authority except those funds authorized in this part or by the governing body.  (2) The governing body may assess a reasonable pro rata share of the funds for the cost of handling and auditing the funds against the funds of the authority, other than those committed for designated purposes, which cost shall be paid annually by the board pursuant to an appropriate item in its budget. History: 2018, Act 57, Eff. Jan. 1, 2019
MI Comp L § 125.4420 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)|57-2018-4 - Part 4 Local Development Finance Authorities (125.4401...125.4420)|Section 125.4420 - Dissolution of Authority; Resolution; Disposition of Property and Assets.

125.4420 Dissolution of authority; resolution; disposition of property and assets.Sec. 420.  An authority that completes the purposes for which it was organized shall be dissolved by resolution of the governing body. The property and assets of the authority remaining after the satisfaction of the obligations of the authority shall belong to the municipality or to an agency or instrumentality designated by resolution of the municipality. History: 2018, Act 57, Eff. Jan. 1, 2019
MI Comp L § 125.4503 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)|57-2018-5 - Part 5 Nonprofit Street Railways (125.4503...125.4527)|Section 125.4503 - Legislative Intent.

125.4503 Legislative intent.Sec. 503.  The legislature finds and declares that there exists in this state a need to encourage the development of transportation facilities and the provision of public transportation services by authorizing the acquiring, owning, constructing, furnishing, equipping, completing, operating, improving, and maintaining of nonprofit street railway companies and systems and that public assistance in acquiring, owning, constructing, furnishing, equipping, completing, operating, improving, and maintaining nonprofit street railway companies and systems in this state is declared to be a public purpose. It is the intent of the legislature that a street railway system constructed by a nonprofit corporation under this part be designed to adapt to or connect with other public transit systems. It is the intent of the legislature that resources expended to construct a street railway system under this part qualify as state and local match funds for transit systems eligible for federal funding. History: 2018, Act 57, Eff. Jan. 1, 2019
MI Comp L § 125.4505 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)|57-2018-5 - Part 5 Nonprofit Street Railways (125.4503...125.4527)|Section 125.4505 - Construction of Act.

125.4505 Construction of act.Sec. 505.  (1) This part shall be construed liberally to effectuate the legislative intent and the purpose of this part as complete and independent authorization for the performance of each and every act and thing authorized in this part and all powers granted in this part shall be broadly interpreted to effectuate the intent and purposes of this part and not as a limitation of powers.  (2) The powers conferred in this part upon a street railway shall be in addition to any other powers the street railway possesses under law.   (3) Unless permitted by the state constitution of 1963 or this part or agreed to by a street railway, any restrictions, standards, conditions, or prerequisites of a city, village, or township otherwise applicable only to a street railway and enacted after January 12, 2009 do not apply to a street railway. This subsection is intended to prohibit special local legislation or ordinances applicable exclusively or primarily to a street railway and not to exempt a street railway from laws generally applicable to other persons or entities. History: 2018, Act 57, Eff. Jan. 1, 2019
MI Comp L § 125.4509 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)|57-2018-5 - Part 5 Nonprofit Street Railways (125.4503...125.4527)|Section 125.4509 - Street Railway; Organization; Articles of Incorporation; Filing; Applicability of the Nonprofit Corporation Act.

125.4509 Street railway; organization; articles of incorporation; filing; applicability of the nonprofit corporation act.Sec. 509.  (1) After January 12, 2009, 1 or more persons may organize a street railway under this part for the purpose of acquiring, owning, constructing, furnishing, equipping, completing, operating, improving, and maintaining a street railway system by signing in ink and filing articles of incorporation for the street railway. The articles shall include all of the following:  (a) The name of the street railway, which shall include the words "rail", "railway", "street railway", "light rail", or "metro rail".  (b) The purpose for which the corporation is organized, which shall be limited to acquiring, owning, constructing, furnishing, equipping, completing, operating, improving, and maintaining a street railway system.  (c) The city, village, or township in which the street railway system will principally operate.  (2) Articles of incorporation shall be filed with the bureau of commercial services of the department of talent and economic development as provided under the nonprofit corporation act, 1982 PA 162, MCL 450.2101 to 450.3192.  (3) The nonprofit corporation act, 1982 PA 162, MCL 450.2101 to 450.3192, shall apply to a street railway organized under this section unless otherwise provided in or inconsistent with this part. History: 2018, Act 57, Eff. Jan. 1, 2019 Compiler's Notes: For the transfer of powers and duties of the department of talent and economic development to the department of licensing and regulatory affairs, see E.R.O. No. 2019-3, compiled at MCL 125.1998.
MI Comp L § 125.4511 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)|57-2018-5 - Part 5 Nonprofit Street Railways (125.4503...125.4527)|Section 125.4511 - Nonprofit Corporation as Street Railway; Amendment of Articles of Incorporation Required; Provisions; Adoption; Filing; Applicability of the Nonprofit Corporation Act.

125.4511 Nonprofit corporation as street railway; amendment of articles of incorporation required; provisions; adoption; filing; applicability of the nonprofit corporation act.Sec. 511.  (1) A nonprofit corporation may become a street railway under this part and acquire, own, construct, furnish, equip, complete, operate, improve, and maintain a street railway system in a city if on and after January 12, 2009 the articles of incorporation for the nonprofit corporation are amended to include all of the following provisions:  (a) A provision authorizing the name of the corporation, to include the words "rail", "railway", "street railway", "light rail", or "metro rail".  (b) A provision detailing the purposes for which the corporation is organized, which shall be limited to purposes related to acquiring, owning, constructing, furnishing, equipping, completing, operating, improving, and maintaining a street railway system.  (c) A provision indicating the city in which the street railway system will principally operate.  (2) Amendments to the articles of incorporation of a nonprofit corporation under this section shall be adopted and filed with the bureau of commercial services of the department of talent and economic development as provided under the nonprofit corporation act, 1982 PA 162, MCL 450.2101 to 450.3192.  (3) The nonprofit corporation act, 1982 PA 162, MCL 450.2101 to 450.3192, shall apply to a street railway organized under this section unless otherwise provided in or inconsistent with this part. History: 2018, Act 57, Eff. Jan. 1, 2019 Compiler's Notes: For the transfer of powers and duties of the department of talent and economic development to the department of licensing and regulatory affairs, see E.R.O. No. 2019-3, compiled at MCL 125.1998.