Bill > HB6216

This bill amends the Brownfield Redevelopment Financing Act to clarify definitions and modify the cap on total tax capture revenues for transformational brownfield plans. Specifically, it: - Expands the definition of "eligible property" to include housing property, but excludes housing property identified in a transformational brownfield plan. - Increases the cap on total annual tax capture from $80 million to $110 million and the overall cap from $1.6 billion to $2.2 billion. - Requires additional third-party analyses and underwriting for transformational brownfield plans using significant tax capture revenues or meeting certain investment thresholds. - Allows the Michigan Strategic Fund to waive minimum investment requirements for transformational brownfield plans in certain circumstances. - Modifies reporting requirements for transformational brownfield plans, including extending the deadline for transmitting tax capture revenues to 45 days.