Michigan Amends Tax Increment Financing Act

The Michigan Governor signed a law that includes amending Part 2 of the Recodified Tax Increment Financing Act to allow a municipality’s designated downtown district to include two areas separated by a body of water if the municipality is located on the mainland and one or more islands. The law takes effect on May 26, but the amendatory act does not take effect unless H. B. 5455 of the 103rd Legislature is enacted into law. [S.B. 581, enacted 03/26/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.