LANSING, Mich. (AP) — Bills that would give tax incentives to developers for cleaning up brownfield sites are going to the Michigan governor’s desk.
The Senate voted 32-6 Tuesday to approve House changes. One change calls for 35 percent of redevelopment projects to be located in cities with under 100,000 people.
The legislation would let developers keep $40 million of taxes generated annually from jobs and residents at the sites and $200 million in construction taxes over the program’s life. The money would help cover the cost of cleaning up brownfield sites.
Brownfields are areas of land with significant environmental hazards that require extra time and money to clean up.
Republican Sen. Ken Horn says the bills left the Senate a good economic development package and came back from the House a better package.