Introduced
by
To extend the deadline for East Lansing and Lansing to apply to the state to create a certified technology park authority. These authorities allow the municipality to implement a tax increment financing plan to finance public facilities which promote the certified technology park. Tax increment financing allows the authority to capture the increment of increased local property tax revenue that results from the economic growth which is supposed to result because of the new public facilities.
Referred to the Committee on Economic Development, Small Business, and Regulatory Reform
Reported without amendment
With the recommendation that the bill pass.
Passed in the Senate 38 to 0 (details)
Referred to the Committee on Commerce
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that would extend the deadline for establishing an authority to December 31, 2005 from December 31, 2004.
The substitute passed by voice vote
Passed in the House 104 to 0 (details)
To extend the deadline for East Lansing and Lansing to apply to the state to create a certified technology park authority. These authorities allow the municipality to implement a tax increment financing plan to finance public facilities which promote the certified technology park. Tax increment financing allows the authority to capture the increment of increased local property tax revenue that results from the economic growth which is supposed to result because of the new public facilities.
Passed in the Senate 38 to 0 (details)
To concur with the House-passed version of the bill.
