COUNTY GRANTS & LOANS - S.B. 239 & 240: COMMITTEE SUMMARY
<CENTER><IMG SRC=”SFA_ANLY.GIF” WIDTH=100%></CENTER>Senate Bills 239 and 240 (as introduced 2-27-03)
Committee: Local, Urban and State Affairs
CONTENT
Senate Bill 239 would amend Public Act 156 of 1851, which prescribes the powers and duties of county boards of commissioners, to allow a county board of commissioners to grant or loan funds not derived from ad valorem taxes to a nonprofit corporation organized for the purpose of providing loans for private sector economic development initiatives.
Senate Bill 240 would amend Public Act 380 of 1913, which regulates gifts of property to local units of government, to allow a county to grant or loan funds not derived from ad valorem taxes to a township, city, or village, located in the county, for the purpose of encouraging and assisting businesses to locate and expand within the county.
MCL 46.11 (S.B. 239) - Legislative Analyst: George Towne
123.872 (S.B. 840)
FISCAL IMPACT
The bills would have an unknown, although likely minimal impact on local units. The bills would not affect State expenditures and the effects on State revenues would likely be negligible or zero.
- Fiscal Analyst: David ZinS0304\s239sa
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.