Act 281 of 1986 - THE LOCAL DEVELOPMENT FINANCING ACT (125.2151 - 125.2174)
- Section 125.2151 - Legislative findings; short title.
- Section 125.2152 - Definitions.
- Section 125.2153 - Authority; establishment; powers.
- Section 125.2154 - Resolution of intent; notice of public hearing; hearing; resolution exempting taxes from capture; resolution establishing authority and designating boundaries; filing and publicatio
- Section 125.2155 - Board; appointment, qualification, and terms of members; vancancy; reimbursement for expenses; chairperson; oath of office; rules; procedure; meetings; removal of member; publicizin
- Section 125.2156 - Director, employment; compensation; term; oath of office; bond; chief executive officer; duties; acting director; appointment or employment, compensation, and duties of treasurer; a
- Section 125.2157 - Powers of board generally.
- Section 125.2158 - Authority as instrumentality of political subdivision.
- Section 125.2159 - Taking, transfer, and use of private property.
- Section 125.2160 - Financing activities of authority.
- Section 125.2161 - Revenue bonds.
- Section 125.2161a - Insufficient tax increment revenues for repayment of advance or payment of obligation; appropriation; filing claim; information required in claim; distributions; determination of a
- Section 125.2161b - Retention and payment of taxes levied under state education tax act; conditions; application by authority for approval; information to be included; approval, modification, or denia
- Section 125.2162 - Tax increment financing plan generally.
- Section 125.2162a - Designation as certified technology park; application to Michigan economic development corporation; agreement; determination of sale price or rental value for public facilities; in
- Section 125.2162b - Creation of authority in which certified technology park designated; agreement with another authority; designation of distinct geographic area; consideration of advantages and bene
- Section 125.2162c - Designation as certified alternative energy park; application; criteria; agreement; determination of sale price or rental value for public facilities; inclusion of legal and equita
- Section 125.2163 - Tax increment revenues transmitted to authority; expenditure of tax increment revenues; retention or reversion of excess revenue; prohibition; abolition of tax increment financing p
- Section 125.2164 - Tax increment bonds; qualified refunding obligation.
- Section 125.2165 - Development plan generally.
- Section 125.2166 - Adoption of resolution approving development plan or tax increment financing plan; public hearing; notice; record.
- Section 125.2167 - Development plan or tax increment financing plan as constituting public purpose; approval or rejection; considerations; amendments; procedure, notice, findings, and amendment as con
- Section 125.2168 - Relocation of person; notice to vacate.
- Section 125.2169 - Preparation and submission of budget; manner; approval; cost of handling and auditing funds.
- Section 125.2170 - Dissolution of authority; resolution; disposition of property and assets.
- Section 125.2171 - Proceedings to enforce act.
- Section 125.2172 - Effective date.
- Section 125.2173 - Conditional effective date.
- Section 125.2174 - Constitutionality of act.