Legislation to standardize reporting requirements for local tax increment finance authorities (TIFAs) across the state was signed Wednesday by Michigan Gov. Rick Snyder.
“This consolidation improves accountability and transparency, so that taxpayers know how economic development dollars are being spent within local communities,” Snyder said. “Downtown development authorities are great resources for building up Michigan’s fantastic city centers and serve as catalysts for major growth. It’s important that taxpayers, who fund the projects, understand how and why the funding is invested.”
Senate Bill 393, sponsored by state Sen. Ken Horn, consolidates laws authorizing seven different kinds of tax increment finance authorities into a single law. The bill would increase and make TIFA reporting requirements uniform, include in the reports information on the debt they have incurred – as well as direct or indirect subsidies granted – provide sanctions for authorities that fail to make required reports, and prescribe what information they must post on their websites. The bill is now Public Act 57 of 2018.
Snyder also signed 10 additional measures:
• Senate Bills 419-421, sponsored by state Sens. Judy Emmons, Phil Pavlov, and Rick Jones, respectively, make changes to the Michigan Child Protection Law, the Child Abuse and Neglect Prevention Act, and the Probate Code to ensure compliance with federal law and to clarify child protection cases. The bills are now PA 58-60 of 2018.
• SB 522, sponsored by state Sen. Tom Casperson, amends the Community Center Act to allow for compensation for the board of directors of a community center. The bill is now PA 61 of 2018.
• SB 582, sponsored by state Sen. Marty Knollenberg, allows physical therapists to be added to the list of approved medical providers who may determine an individual’s need to be issued a disability parking placard. The bill is now PA 62 of 2018.
• SB 645, sponsored by state Sen, Tom Casperson, codifies existing state oversight of rail fixed guideway systems to comply with new Federal Transit Administration requirements. The bill is now PA 63 of 2018.
• House Bill 4535, sponsored by state Rep. Curtis VanderWall, permits an individual who renews their vehicle registration on time to be granted a 30-day grace period to attach the renewal tab to their license plate. The bill is PA 64 of 2018.
• HBs 4536-4538, sponsored by state Rep. Peter Lucido, will require all arrest and biometric information to be destroyed if the complainant recants their testimony or the charges were dismissed prior to trial. HB 4537 establishes policy and rules regarding the expunction or destruction of data in criminal justice information systems. The bills are PAs 65-67 of 2018.
For additional information on this and other legislation, visit www.legislature.mi.gov.
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