§ 123.1341 Short title
§ 123.1343 Legislative findings; declarations; purpose of act
§ 123.1345 Definitions
§ 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
§ 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; meet
§ 123.1351 Powers, duties, functions, and responsibilities 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
§ 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 d
§ 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 service
§ 123.1355 Municipality that is local school district; duties of department
§ 123.1356 Municipality that is intermediate school district; duties of department
§ 123.1356a Municipality that is tax increment finance authority; calculation of municipality’s tax increment small taxpayer loss; duties of municipality; report
§ 123.1356b Calculation by municipality that is tax increment finance authority; form and manner; extension of calculation and reporting date; exclusion
§ 123.1357 Appropriation of funds; purposes; distribution to municipalities; distribution of local community stabilization share revenue; priority; payments, overpayments, and underpayments; insufficient funds;
§ 123.1358 Distributions; determination by department; submission of information by municipality; availability; municipality review and reporting
§ 123.1359 Bonds or other obligations; issuance
§ 123.1361 Debt payment
§ 123.1362 Construction of act

Terms Used In Michigan Laws > Chapter 123 > Act 86 of 2014 - Local Community Stabilization Authority Act

  • Acquisition cost: means that term as defined in section 3 of the state essential services assessment act, 2014 PA 92, MCL 211. See Michigan Laws 123.1345
  • Ambulance services: means patient transport services, nontransport prehospital life support services, and advanced life support, paramedic, and medical first-responder services. See Michigan Laws 123.1345
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appraisal: A determination of property value.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • area vocational-technical education program: means the geographical territory of the district, and any territory outside of the district that is designated as the service area of the district by the superintendent of public instruction. See Michigan Laws 389.105
  • Authority: means the local community stabilization authority, a metropolitan authority established under section 7. See Michigan Laws 123.1345
  • Captured value: means 1 or more of the following:
  (i) For a tax increment finance authority under the brownfield redevelopment financing act, 1996 PA 381, MCL 125. See Michigan Laws 123.1345
  • Commercial personal property: means , except as otherwise provided in subparagraph (iii), all of the following:
  •   (i) Personal property classified as commercial personal property under section 34c of the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 123.1345
  • Community college: means an educational institution providing collegiate and noncollegiate level education primarily to individuals above the twelfth grade age level within commuting distance. See Michigan Laws 389.105
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Council: means the council established for the authority under section 9. See Michigan Laws 123.1345
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Debt loss: means , for a municipality that is not a local school district, intermediate school district, or tax increment finance authority, the amount of ad valorem property taxes and any specific tax levied for the payment of principal and interest of obligations either approved by the voters before January 1, 2013 or incurred before January 1, 2013 pledging the unlimited or limited taxing power of the municipality that are lost as a result of the exemption of industrial personal property and commercial personal property under sections 9m, 9n, and 9o of the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 123.1345
  • Department: means the department of treasury. See Michigan Laws 123.1345
  • Dependent: A person dependent for support upon another.
  • Devise: To gift property by will.
  • Eligible personal property: means personal property described in section 3(e)(i), (iii), and (iv) of the state essential services assessment act, 2014 PA 92, MCL 211. See Michigan Laws 123.1345
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Essential services: means all of the following:
  •   (i) Ambulance services. See Michigan Laws 123.1345
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Fire services: means services in the prevention and suppression of fire, homeland security response, hazardous materials response, rescue, fire marshal, and medical first-responder services. See Michigan Laws 123.1345
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Fiscal year: means either an annual period that begins on October 1 and ends on September 30 or the fiscal year for the authority established by the council. See Michigan Laws 123.1345
  • Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. Source: OCC
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q
  • Increased captured value: means the anticipated increase in captured value for all industrial personal property and commercial personal property in a tax increment finance authority that would have occurred as a result of either the addition of personal property as part of a specific project or the expiration of an exemption under section 7k, 7ff, or 9f of the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 123.1345
  • Increased value from expired tax exemptions: means the increase in taxable value subject to tax of industrial personal property and commercial personal property placed in service before 2013 that would have occurred after 2013 if the exemptions under section 9m or 9n of the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 123.1345
  • Industrial personal property: means , except as otherwise provided in subparagraph (iii), all of the following:
  •   (i) Personal property classified as industrial personal property under section 34c of the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 123.1345
  • Jail operations: means all of the following:
  •   (i) The operation of a jail, holding cell, holding center, or lockup as those terms are defined in section 62 of the corrections code of 1953, 1953 PA 232, MCL 791. See Michigan Laws 123.1345
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Local authority: means any authority, excluding an authority created under this act or a tax increment finance authority. See Michigan Laws 123.1345
  • Local community stabilization share: means that portion of the use tax levied by the authority and authorized under the use tax act, 1937 PA 94, MCL 205. See Michigan Laws 123.1345
  • Municipality: includes , but is not limited to, the following:
  •   (i) Counties. See Michigan Laws 123.1345
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
  • Personal property: All property that is not real property.
  • Personal property exemption loss: means 1 of the following:
  •   (i) For a municipality that is not a local school district, intermediate school district, or tax increment finance authority, the 2013 taxable value of commercial personal property and industrial personal property minus the current year taxable value of commercial personal property and industrial personal property and minus the small taxpayer exemption loss if, for years after 2017, the small taxpayer exemption loss is greater than zero. See Michigan Laws 123.1345
  • Police services: means law enforcement services for the prevention and detection of crime, the enforcement of laws and ordinances, homeland security response, and medical first-responder services. See Michigan Laws 123.1345
  • Qualified loss: means the amounts calculated under section 14(1) that are not distributed to the municipality under section 17(4)(a). See Michigan Laws 123.1345
  • Qualified obligation: means a written promise to pay by a tax increment finance authority, whether evidenced by a contract, agreement, lease, sublease, bond, resolution promising repayment of an advance, or note, or a requirement to pay imposed by law. See Michigan Laws 123.1345
  • Qualified school debt millage rate: means the following:
  •   (i) For calendar years before calendar year 2018, the millage rate specifically levied by the local school district or intermediate school district in the current year for the payment of principal and interest of obligations approved by the electors before January 1, 2013 or obligations pledging the unlimited taxing power of a local school district or intermediate school district incurred before January 1, 2013. See Michigan Laws 123.1345
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • School operating loss not reimbursed by the school aid fund: means the amount of revenue lost from ad valorem property taxes levied under section 1211 of the revised school code, 1976 PA 451, MCL 380. See Michigan Laws 123.1345
  • Small taxpayer exemption loss: means 1 of the following:
  •   (i) For a municipality, the 2013 taxable value of commercial personal property and industrial personal property minus the 2014 taxable value of commercial personal property and industrial personal property. See Michigan Laws 123.1345
  • Special election: means that term as defined in section 4 of the Michigan election law, MCL 168. See Michigan Laws 389.105
  • Specific tax: means a tax levied under 1974 PA 198, MCL 207. See Michigan Laws 123.1345
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
  • Statute: A law passed by a legislature.
  • Tax increment finance authority: means an authority created under 1 or both of the following:
  •   (i) The brownfield redevelopment financing act, 1996 PA 381, MCL 125. See Michigan Laws 123.1345
  • Tax increment small taxpayer loss: means the amount of revenue lost by a municipality that is a tax increment finance authority due to the exemption provided by section 9o of the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 123.1345
  • Taxable value: means all of the following:
  •   (i) Except as otherwise provided in subparagraph (ii), that value determined under section 27a of the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 123.1345
  • Total qualified loss: means the total amount of qualified losses of all municipalities, as determined by the department. See Michigan Laws 123.1345
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • Trustee: A person or institution holding and administering property in trust.
  • United States: shall be construed to include the district and territories. See Michigan Laws 8.3o
  • Utility personal property: means that term as described in section 34c of the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 123.1345