Michigan Laws 125.4203c – Proceedings or findings; validity
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Terms Used In Michigan Laws 125.4203c
- Authority: means a downtown development authority created pursuant to this part. See Michigan Laws 125.4201
- Development plan: means that information and those requirements for a development plan set forth in section 217. See Michigan Laws 125.4201
- Tax increment revenues: means the amount of ad valorem property taxes and specific local taxes attributable to the application of the levy of all taxing jurisdictions upon the captured assessed value of real and personal property in the development area, subject to the following requirements:
(i) Tax increment revenues include ad valorem property taxes and specific local taxes attributable to the application of the levy of all taxing jurisdictions other than the state pursuant to the state education tax act, 1993 PA 331, MCL 211. See Michigan Laws 125.4201
The validity of the proceedings or findings establishing an authority, or of the procedure, adequacy of notice, or findings with respect to the approval of a development plan or tax increment financing plan is conclusive with respect to the capture of tax increment revenues for an other protected obligation that is a bond issued after October 1, 1994.