A package of bills has been introduced in response to the recent highly publicized issue surrounding tax capture for the Detroit Institute of Arts and the Detroit Zoo milages. HB 4458-4464 would prohibit a TIF district from keeping tax increment revenues from ad valorem property taxes levied under the Zoological Authorities Act and the Art Institute Authorities Act. This language is added into the following acts: Tax Increment Financing Authority Act, Downtown Development Authority Act, Brownfield Redevelopment Financing Act, Local Development Financing Act, Corridor Improvement Authority Act, Nonprofit Street Railway Act, and the Private Investment Infrastructure Act.
Nikki Brown is a legislative associate for the League handling economic development issues. She can be reached at [email protected] or 517-908-0305.