The bill amends the Recodified Tax Increment Financing Act (2018 PA 57) by updating definitions and provisions related to water resource improvements and access to inland lakes and rivers. Key insertions include the expansion of the definition of "public facility" to encompass improvements related to inland river systems, as well as the introduction of new terms such as "water resource improvement district" and various activities that fall under water resource improvements. The bill also clarifies the responsibilities of municipal governing bodies in creating authorities for these improvements, including the requirement for public hearings and the publication of notices.

Additionally, the bill modifies existing language regarding the calculation of specific local taxes and tax increment revenues, ensuring clarity in the definitions and processes involved. It emphasizes the importance of public engagement in the establishment of authorities and outlines the powers granted to these authorities, including the ability to acquire property, implement water resource management plans, and collaborate with state departments on environmental issues. Overall, the amendments aim to enhance the management and improvement of water resources in Michigan, particularly in relation to public access and ecological sustainability.

Statutes affected:
Substitute (S-1): 125.4703
Senate Introduced Bill: 125.4703
As Passed by the Senate: 125.4703