LANSING―The Michigan Senate approved legislation recently that fixes a problem in state tax law by extending reporting deadlines for municipalities, including Battle Creek, permitting them to receive funding to continue to pay existing debts, said state Sen. Mike Nofs.
Senate Bills 1005 and 1006 were the first pieces of Nofs sponsored legislation to be approved by the chamber.
“I’m pleased that with my first bill I was able to assist Battle Creek in making the necessary changes to state law so that the city will be able to continue to meet its debt obligations,” said Nofs, R-Battle Creek. “I thank my colleagues in the Senate for their overwhelming support and look forward to working with Rep. Segal who is sponsoring similar legislation in the House.”
SB 1005 amends the Downtown Development Amendment Act to extend the deadline for municipalities to apply with the Department of Treasury to keep State Education Tax dollars to pay existing obligations from June 1, 2008 to Sept. 15, 2009. SB 1006 likewise amends the Tax Increment Finance Authority Act, extending that deadline from June 1, 2008 to Sept. 30, 2009.
The bills have been transferred to the state House for consideration.