Richardville legislation to encourage economic growth in local communities signed into law
LANSING-Legislation that will encourage additional economic growth in Michigan communities was recently signed by the governor, said Sen. Randy Richardville, sponsor of the bill.
"This new law will enable more Michigan townships and communities to retain and attract businesses," said Richardville, R-Monroe. "It will help promote economic growth and create jobs in local communities."
Senate Bill 455, now Public Act 200 of 2007, expands the Local Development Finance Authority Act to permit more townships to take advantage of the resources such authority can provide. They allow a city, village or urban township to capture tax revenue from development projects to fund public infrastructure improvements.
"This is a major step forward in enabling smaller communities to encourage economic development," Richardville said. "I would like to thank my colleagues in the Senate, members of the House and the administration for supporting this measure to help communities in Michigan grow and prosper."
Posted: Wednesday, January 02, 2008
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