Michigan § 125.2661 Financing sources of authority activities.

Michigan Statutes

§ 125.2661 — Financing sources of authority activities.

Michigan § 125.2661

Ch. 125PLANNING, HOUSING, AND ZONING

Act 381 of 1996BROWNFIELD REDEVELOPMENT FINANCING ACT (125.2651-125.2672)

This text of Michigan § 125.2661 (Financing sources of authority activities.) is published on Counsel Stack Legal Research, covering Michigan primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mich. Comp. Laws § 125.2661 (2026).

Text

BROWNFIELD REDEVELOPMENT FINANCING ACT (EXCERPT) Act 381 of 1996 125.2661 Financing sources of authority activities. Sec. 11. The activities of the authority must be financed from 1 or more of the following sources:

(a)Contributions, contractual payments, or appropriations to the authority for the performance of its functions or to pay the costs of a brownfield plan of the authority.

(b)Revenues from a property, building, or facility owned, leased, licensed, or operated by the authority or under its control, subject to the limitations imposed on the authority by trusts or other agreements.

(c)Subject to the limitations imposed under sections 8, 13, 13b, and 15, 1 or both of the following:

(i)Tax increment revenues received under a brownfield plan established under sections 13 and 14. (

Free access — add to your briefcase to read the full text and ask questions with AI

BROWNFIELD REDEVELOPMENT FINANCING ACT (EXCERPT) Act 381 of 1996 125.2661 Financing sources of authority activities. Sec. 11. The activities of the authority must be financed from 1 or more of the following sources: (a) Contributions, contractual payments, or appropriations to the authority for the performance of its functions or to pay the costs of a brownfield plan of the authority. (b) Revenues from a property, building, or facility owned, leased, licensed, or operated by the authority or under its control, subject to the limitations imposed on the authority by trusts or other agreements. (c) Subject to the limitations imposed under sections 8, 13, 13b, and 15, 1 or both of the following: (i) Tax increment revenues received under a brownfield plan established under sections 13 and 14. (ii) Proceeds of tax increment bonds and notes issued under section 17. (d) Proceeds of revenue bonds and notes issued under section 12. (e) Revenue available in the local brownfield revolving fund for the costs described in section 8. (f) Construction period tax capture revenues, withholding tax capture revenues, income tax capture revenues, and sales and use tax capture revenues received under a transformational brownfield plan established under sections 13c and 14a. (g) Money obtained from all other sources approved by the governing body of the municipality or otherwise authorized by law for use by the authority or the municipality to finance activities authorized under this act.

Legislative History

1996, Act 381 , Eff. Sept. 16, 1996 ;-- Am. 2016, Act 471 , Eff. Apr. 5, 2017 ;-- Am. 2017, Act 46 , Eff. July 24, 2017 ;-- Am. 2023, Act 89 , Imd. Eff. July 19, 2023 ;-- Am. 2023, Act 90 , Imd. Eff. July 19, 2023