Section 123.1357 – Appropriation of Funds; Purposes; Distribution to Municipalities; Distribution of Local Community Stabilization Share Revenue; Priority; Payments, Overpayments, and Underpayments; Insufficient Funds; Use of Revenue; Distribution; Amounts.
123.1357 Appropriation of funds; purposes; distribution to municipalities; distribution of local community stabilization share revenue; priority; payments, overpayments, and underpayments; insufficient funds; use of revenue; distribution; amounts. Sec. 17. (1) The legislature shall appropriate funds for all of the following purposes: (a) For fiscal year 2014-2015 and fiscal year 2015-2016, to the authority, an amount […]
Section 123.1358 – Distributions; Determination by Department; Submission of Information by Municipality; Availability; Municipality Review and Reporting.
123.1358 Distributions; determination by department; submission of information by municipality; availability; municipality review and reporting. Sec. 18. (1) Beginning in fiscal year 2015-2016, and each fiscal year thereafter, the department shall determine the amount of the distributions under this act, except for the payments under section 17(4)(a)(vii) and (viii) and section 17(4)(d)(ii). (2) Each municipality […]
Section 123.1359 – Bonds or Other Obligations; Issuance.
123.1359 Bonds or other obligations; issuance. Sec. 19. (1) A local unit of government may issue bonds or other obligations in anticipation of the distribution of local community stabilization share revenue under section 17(4)(a)(iv). (2) Bonds or other obligations issued under this section are subject to the revised municipal finance act, 2001 PA 34, MCL […]
Section 123.1360 – Repealed. 2016, Act 124, Eff. May 19, 2016.
123.1360 Repealed. 2016, Act 124, Eff. May 19, 2016. Compiler’s Notes: The repealed section pertained to loss replacement from certain exemptions.
Section 123.1361 – Debt Payment.
123.1361 Debt payment. Sec. 21. (1) If a municipality does not adjust its debt millage rate to reflect reimbursement for the small taxpayer exemption loss under section 17(1)(a), the reimbursement under section 17(1)(a) shall be reduced by the excess debt taxes levied. (2) A municipality shall use the amount received under section 17(4) for debt […]
Section 123.1362 – Construction of Act.
123.1362 Construction of act. Sec. 22. This act shall be construed to effectuate the legislative intent and the purposes of this act as complete and independent authorization for the performance of each and every act and thing authorized in the act, and all powers granted in this act shall be broadly interpreted to effectuate the […]
Section 123.1349 – Authority Council; Establishment as Governing Body; Membership; Appointment; Terms; Vacancy; Chairperson; Oath of Office; Compensation; Reimbursement for Travel and Expenses; Discharge of Duties; Meeting; Election of Officers; Conduct of Business at Public Meeting; Special Meeting; Availability of Records to Public; System of Accounts; Annual Audit; Budget; Procurement Policy; Members as Public Servants; Ethics Manual; Conflict of Interest; Removal From Office.
123.1349 Authority council; establishment as governing body; membership; appointment; terms; vacancy; chairperson; oath of office; compensation; reimbursement for travel and expenses; discharge of duties; meeting; election of officers; conduct of business at public meeting; special meeting; availability of records to public; system of accounts; annual audit; budget; procurement policy; members as public servants; ethics manual; […]
Section 123.1351 – Powers, Duties, Functions, and Responsibilities of Authority.
123.1351 Powers, duties, functions, and responsibilities of authority. Sec. 11. (1) The authority may exercise all of the following powers, duties, functions, and responsibilities: (a) Powers, duties, functions, and responsibilities vested in the authority under the use tax act, 1937 PA 94, MCL 205.91 to 205.111. (b) Exercise the powers, duties, functions, and responsibilities vested […]
Section 123.1352 – Local Community Stabilization Share; Power of Authority to Levy; Limitation; Receipt and Collection by Department; Generated Money as Money of Authority.
123.1352 Local community stabilization share; power of authority to levy; limitation; receipt and collection by department; generated money as money of authority. Sec. 12. (1) The authority has the exclusive power to levy the local community stabilization share under the use tax act, 1937 PA 94, MCL 205.91 to 205.111. The authority is authorized to […]
Section 123.1353 – Report by City and Township Assessor to County Equalization Director; Report by County Equalization Director to Department; Compilation of Municipality’s Information; Calculation of Millage Rate and Debt Loss or School Debt Loss; Report of Increased Value From Expired Tax Exemptions; Exclusion of Enhancement Millage; Report of Millage for Essential Services.
123.1353 Report by city and township assessor to county equalization director; report by county equalization director to department; compilation of municipality’s information; calculation of millage rate and debt loss or school debt loss; report of increased value from expired tax exemptions; exclusion of enhancement millage; report of millage for essential services. Sec. 13. (1) Not […]