2012 House Bill 5330

Clarify “promise zone” TIFA details

Introduced in the House

Jan. 31, 2012

Introduced by Rep. Jon Bumstead (R-100)

To clarify details of a 15 percent cap on the amount of tax revenues “captured” for a college scholarship “promise zone” (created by a <a her="http://www.michiganvotes.org/2007-SB-861">2008 law</a>) that can be used to pay administrative expenses. The bill also exempts smaller school districts with these “promise zones” tax increment financing authorities from certain pre-approval procedures.

Referred to the Committee on Education

June 7, 2012

Reported without amendment

Without amendment and with the recommendation that the bill pass.

Sept. 27, 2012

Passed in the House 96 to 11 (details)

Received in the Senate

Sept. 27, 2012

Referred to the Committee on Education

Dec. 6, 2012

Reported without amendment

With the recommendation that the bill be referred to the Committee on Economic Development.

Referred to the Committee on Economic Development