The bill amends the Recodified Tax Increment Financing Act (2018 PA 57) by modifying section 228a. It establishes that, beginning January 1, 2010, the authority is exempt from all taxation on its earnings or property. Additionally, it specifies that instruments of conveyance from the authority are exempt from transfer taxes under the 1966 PA 134, while removing references to the state real estate transfer tax act and replacing it with the former 1993 PA 330.

The bill includes provisions that it will take effect 90 days after being enacted into law, but only if certain other bills from the 103rd Legislature are also enacted. These bills include House Bill No. 5874 and House Bill No. 5880.

Statutes affected:
House Introduced Bill: 125.4228
As Passed by the House: 125.4228