The bill amends the existing law regarding the development and operation of business improvement zones in Michigan. It specifies that all property owners as of the date of the petition delivery are eligible to vote in the election for adopting a zone plan and establishing a business improvement zone, which must be conducted by mail. A zone plan is considered adopted if more than 60% of voting property owners approve it. Additionally, the bill outlines the reimbursement process for cities or villages for expenses incurred in compliance with the chapter and clarifies that the establishment of a business improvement zone does not exempt it from adhering to applicable laws.

Key changes include the introduction of new definitions and voting procedures, such as the proportional voting system based on property assessments, and the stipulation that no single property owner's vote can exceed 25% of the total. The bill also redefines "affiliate" to clarify the relationship between entities in the context of voting rights. Furthermore, it includes a provision that the bill will not take effect unless another specified Senate Bill is enacted into law.

Statutes affected:
Senate Introduced Bill: 125.990