PA 198: TERMINATION OF DISTRICT

House Bill 5415

Sponsor:  Rep. Gene DeRossett

Committee:  Commerce

Complete to 6-28-04

A SUMMARY OF HOUSE BILL 5415 AS INTRODUCED 1-21-04

The bill would amend the Plant Rehabilitation and Industrial Development Districts Act (commonly referred to as PA 198) to allow a local unit of government, by resolution of its legislative body, to terminate a plant rehabilitation district or industrial development district if no tax abatement certificates are in effect within the district on the date of the termination resolution.

(The act being amended allows the creation of districts in which a specific tax can be levied in lieu of property taxes to provide property tax reductions for industrial facilities.)

FISCAL IMPACT:

As written, the bill would have no fiscal impact.

                                                                                           Legislative Analyst:   Chris Couch

                                                                                                  Fiscal Analyst:   Rebecca Ross

■ This analysis was prepared by nonpartisan House staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.