123.1341 Short title. Sec. 1. This act shall be known and may be cited as the “local community stabilization authority act”. History: 2014, Act 86, Eff. Aug. 22, 2014 Compiler’s Notes: Enacting section 2 of Act 86 of 2014 provides:”Enacting section 2. This act does not take effect unless Senate Bill No. 822 of the […]
123.1343 Legislative findings; declarations; purpose of act. Sec. 3. (1) The legislature finds and declares all of the following: (a) That there exists in this state a continuing need to strengthen and revitalize the economy of this state and to organize the activities of local government in metropolitan areas in a manner that reduces governmental […]
123.1345 Definitions. Sec. 5. As used in this act: (a) “Acquisition cost” means that term as defined in section 3 of the state essential services assessment act, 2014 PA 92, MCL 211.1053, multiplied by the following percentages: (i) For eligible personal property reported to the department and described in section 5(2)(a) of the state essential […]
123.1347 Local community stabilization authority; establishment; public body corporate and special authority; property of authority as public property; exemption from taxes and special assessments; presumption of validity; jurisdiction. Sec. 7. (1) The local community stabilization authority is established as a metropolitan government for the metropolitan areas of this state under section 27 of article VII […]
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; […]
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 […]
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 […]
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 […]
123.1354 Municipality not local school district, intermediate school district, or tax increment finance authority; municipality that is county, township, village, city, or authority providing essential services; duties of department. Sec. 14. (1) Not later than November 7, 2017, and each October 7 thereafter, for each municipality that is not a local school district, intermediate school […]
123.1355 Municipality that is local school district; duties of department. Sec. 15. Not later than November 7, 2017, and each October 7 thereafter, for each municipality that is a local school district, the department shall do all of the following: (a) Calculate the municipality’s personal property exemption loss. (b) Multiply the result of the calculation […]
123.1356 Municipality that is intermediate school district; duties of department. Sec. 16. Not later than November 7, 2017, and each October 7 thereafter, for each municipality that is an intermediate school district, the department shall do all of the following: (a) Calculate the municipality’s personal property exemption loss. (b) Multiply the result of the calculation […]
123.1356a Municipality that is tax increment finance authority; calculation of municipality’s tax increment small taxpayer loss; duties of municipality; report. Sec. 16a. (1) Not later than June 15, 2014 and June 15, 2015, each municipality that is a tax increment finance authority shall calculate and report to the department the municipality’s tax increment small taxpayer […]
123.1356b Calculation by municipality that is tax increment finance authority; form and manner; extension of calculation and reporting date; exclusion. Sec. 16b. (1) Each municipality that is a tax increment finance authority shall report to the department the calculation required under section 16a on a form and in a manner prescribed by the department. (2) […]
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 […]
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 […]
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 […]
123.1360 Repealed. 2016, Act 124, Eff. May 19, 2016. Compiler’s Notes: The repealed section pertained to loss replacement from certain exemptions.
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 […]
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 […]
