Bill > HB5412

This bill modifies the Brownfield Redevelopment Financing Act by adding new restrictions on disbursing funds from the state brownfield redevelopment fund. Specifically, the bill prohibits money from being disbursed if any required reports are delinquent or if the Michigan Strategic Fund (MSF) is late in submitting legislatively required reports. The bill introduces two key provisions: first, it prevents fund disbursement when reports are overdue, with an exception for existing written agreements made before the bill's effective date; second, it mandates that new written agreements must include a clause stipulating that funds will not be disbursed if reports are delinquent. The bill also adds a provision preventing the MSF from disbursing money under any economic incentive program if it is prohibited from doing so under another section of law. These changes aim to improve accountability and ensure timely reporting in brownfield redevelopment projects, which involve cleaning up and redeveloping contaminated or environmentally challenged properties to promote economic development and land reuse.

Government Affairs

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-5412