SB-1097, As Passed Senate, November 13, 2014
SUBSTITUTE FOR
SENATE BILL NO. 1097
A bill to amend 1986 PA 281, entitled
"The local development financing act,"
by amending section 12b (MCL 125.2162b), as added by 2008 PA 104.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec.
12b. A Through December
31, 2015, a municipality that has
created an authority in which a certified technology park has been
designated under this act may enter into an agreement with another
authority that does not contain a certified technology park to
designate a distinct geographic area within the authority district
as a certified technology park. The authority shall consider the
advantages of the unique characteristics and specialties offered by
the public and private resources available in the distinct
geographic area, shall consider the benefits to regional
cooperation and collaboration, and shall consider whether
designating the additional distinct geographic area adds value to
the mission of the designated certified technology park. The
distinct geographic area is subject to the provisions of section
12a(3), (4), and (5). The state treasurer shall not approve the
capture of amounts levied by the state under the state education
tax act, 1993 PA 331, MCL 211.901 to 211.906, and by local and
intermediate
school districts as permitted in section 2(ee)(ii)(B)
2(jj)(ii)(B) for
more than 3 9 distinct geographic areas designated
under this section. A copy of the designation shall be filed with
the Michigan economic development corporation.