SENATE BILL No. 1129

February 21, 2002, Introduced by Senators STILLE, BENNETT and STEIL and referred to the

Committee on Human Resources and Labor.

A bill to provide for the creation of the community develop-

ment authority; to provide for the operation of the authority; to

assemble and clear title to certain property in a coordinated

manner; to facilitate the use and development of certain proper-

ty; to promote economic growth; to prescribe the powers and

duties of the authority; to provide for the creation and appoint-

ment of a board to govern the authority and to prescribe its

powers and duties; to authorize the acquisition, maintenance, and

disposal of interests in real and personal property; to authorize

the conveyance of certain property by certain public entities or

public officials to the authority; to authorize the enforcement

of tax liens and the clearing or quieting of title by the author-

ity; to provide for the distribution and use of revenues

collected or received by the authority; to prescribe powers and

duties of certain public entities and state and local officers

06865'02 JLB

2

and agencies; to authorize the issuance of bonds and notes; to

authorize the release of tax liens; to exempt property, income,

and operations of an authority from tax; and to extend protec-

tions against certain liabilities to the authority.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

1 Sec. 1. This act shall be known and may be cited as the

2 "community development authority act".

3 Sec. 2. The community development authority is created

4 within the department of treasury.

5 Sec. 3. The community development authority shall be gov-

6 erned by a board of directors appointed by the governor.

7 Sec. 4. The community development authority may do all of

8 the following to facilitate economic growth within local govern-

9 mental units:

10 (a) Acquire, maintain, dispose, clear title to, and assemble

11 interests in real and personal property.

12 (b) Enforce or release tax liens on or quiet or clear title

13 to property the title to which is held by the community develop-

14 ment authority.

15 (c) Receive and distribute revenue generated by the sale of

16 property the title to which is held by the community development

17 authority.

18 (d) Issue bonds or notes in accordance with the laws of this

19 state.

20 (e) Take action to prevent its exposure to liabilities

21 relating to the activities of the community development

22 authority.

06865'02

3

1 Sec. 5. This state and local governmental units may with

2 the consent of the community development authority convey prop-

3 erty to the community development authority.

4 Sec. 6. The community development authority is exempt from

5 taxation by this state.

06865'02 Final page. JLB