COUNTY GRANTS & LOANS - H.B. 4300 (H-1): COMMITTEE SUMMARY
sans-serif">House Bill 4300 (Substitute H-1 as passed by the House)
Sponsor: Representative Lorence Wenke
House Committee: Local Government and Urban Policy
Senate Committee: Local, Urban and State Affairs
CONTENT
The bill would amend Public Act 380 of 1913, which regulates gifts of property to local units of government, to allow a county to grant or loan funds to a township, city, or village located in the county, for the purpose of encouraging and assisting businesses to locate and expand within the county. A grant or loan could not be derived from ad valorem taxes except for taxes approved by a vote of the people for economic development.
To receive a grant or loan, a county would have to establish an application process. The awarding of a grant or loan would have to be made at a public hearing of the county board of commissioners. A grant or loan contract would have to require a report to the board regarding the recipient’s activities and the degree to which the recipient had met the stated public purpose of the funding.
MCL 123.872 - Legislative Analyst: George Towne
FISCAL IMPACT
The bill would have no fiscal impact on State government and a minimal fiscal impact on local government.
- Fiscal Analyst: David ZinS0304\s4300sa
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.