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TIF Plans Due to Treasury by April 1, 2019

Posted on March 18, 2019 by Jennifer Rigterink

Pursuant to Public Act 57 of 2018, if you have a DDA, CIA, LDFA, NIA, WRA and or TIFA that has an active Tax Increment Financing Authority please remember your municipality is subject to additional reporting requirements that went in to effect January 1, 2019.

The first deadline for compliance is quickly approaching. Each authority using tax increment financing is required to send a copy, or a link to a copy, of its current TIF plan (or Development/TIF plan if combined in a single document) to Treasury. TIF plans are due no later than April 1, 2019. Plans should be sent via email to: Treas-StateSharePropTaxes@michigan.gov.

The deadline for filing the annual financial report (available at the Treasury TIF website) is 180 days after the end of the authority’s fiscal year ending after January 1, 2019.

TIF Reporting Timeline:

Failure to timely file the required documents could result in the loss of some or all of an authority’s tax increment revenue. For questions, contact Travis Bukovcik with the Department of Treasury at Bukovcikt@michigan.gov or 517-335-2532.

Jennifer Rigterink is a legislative associate for the League handling economic development, land use and municipal services issues.  She can be reached at jrigterink@mml.org or 517-908-0305.

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