Transformational brownfield program; dedicated webpage.

Sec. 16a. (1) In addition to any other requirements under this act, a dedicated webpage for the transformational brownfield program must be made available to the public on the website of the Michigan strategic fund or the Michigan economic development corporation. (2) The transformational brownfield program webpage must include all of the following information: (a) Notice of a meeting of the Michigan strategic fund board that will occur on or after the effective date of the amendatory act that added this section and that will consider approval of a transformational brownfield plan or an amendment to a transformational brownfield plan. (b) For each meeting described in subdivision (a), all of the following information, as applicable, which must be made available before the meeting occurs: (i) Documents, reports, and other information distributed in the board packet to the members of the Michigan strategic fund board related to the approval of the transformational brownfield plan or an amendment to the transformational brownfield plan. (ii) If the approval is for an amendment to a transformational brownfield plan, a summary of the amendment and the date of the amendment. (c) Any other documents prepared or received by the Michigan strategic fund board in connection with the approval of transformational brownfield plans or amendments to transformational brownfield plans on or after the effective date of the amendatory act that added this section, including, but not limited to, all of the following: (i) The financial and underwriting analysis conducted under section 14a(5). (ii) Independent, third-party analyses received under section 14a(6). (iii) Any other economic and fiscal impact analyses prepared or received by the Michigan strategic fund board. (d) Audit reports prepared or received by the Michigan strategic fund with respect to transformational brownfield plans, including but not limited to the postaudit report described in section 16(6). (e) Recordings of meetings under section 16b. (f) For each project under a transformational brownfield plan approved on or after the effective date of the amendatory act that added this section, a list of the annual project milestones that must be met and the status of each milestone. If the deadline for a milestone has passed, the status must include whether the milestone was met, not met, or adjusted. The information described in this subdivision must be updated not less than annually. (g) For each calendar year that ends on or after the effective date of the amendatory act that added this section, a list of each project under a transformational brownfield plan that received transformational brownfield sales and use tax exemptions or state tax revenues and, for each project listed, the total capital investment in the project as of the last day of the calendar year, the amount of transformational brownfield sales and use tax exemptions received during the calendar year, and the amount of state tax revenues received during the calendar year, broken down by construction period tax capture revenues, income tax capture revenues, sales and use tax capture revenues, and withholding tax capture revenues. Information under this subdivision for a calendar year must be posted on the webpage by the April 1 immediately following the end of the calendar year. (h) For each calendar year that ends on or after the effective date of the amendatory act that added this section, all of the following information regarding the limit on the commitment or disbursement of total annual tax capture under section 14a(19), the information must be updated on a rolling basis, but not less than quarterly: (i) The amount of the limit on the commitment and disbursement of total annual tax capture under section 14a(19), broken down as described in section 14a(19). (ii) The amounts that have been committed and disbursed to date, broken down as described in section 14a(19) and further broken down by income tax capture revenues, sales and use tax capture revenues, and withholding tax capture revenues. (iii) The remaining amount available for commitment or disbursement under section 14a(19). (i) All of the following information regarding the limit on the total amount of income tax capture revenues, withholding tax capture revenues, and sales and use tax capture revenues that may be committed or disbursed under section 14a(20), the information must be updated on a rolling basis, but not less than quarterly: (i) The amount of the limit on the total amount of income tax capture revenues, withholding tax capture revenues, and sales and use tax capture revenues that may be committed or disbursed under section 14a(20). (ii) The total amount of income tax capture revenues, withholding tax capture revenues, and sales and use tax capture revenues that have been committed or disbursed to date, broken down by income tax capture revenues, withholding tax capture revenues, and sales and use tax capture revenues. (iii) The remaining amount available to be committed or disbursed under section 14a(20). (j) All of the following information regarding the limit on the approval of construction period tax capture revenues and transformational brownfield sales and use tax exemptions under section 14a(21), which information must be updated on a rolling basis, but not less than quarterly: (i) The amount of the limit on construction period tax capture revenues and transformational brownfield sales and use tax exemptions under section 14a(21). (ii) The total amount of construction period tax capture revenues and, unless excluded in determining whether the limit has been met under section 14a(21), transformational brownfield sales and use tax exemptions that have been approved to date, broken down by construction period tax capture revenues and transformational brownfield sales and use tax exemptions. (iii) The remaining amount available for approval under section 14a(21). (k) A record of the total amount of tax revenues that have been paid each year under the transformational brownfield program since the enactment of the program, broken down by project name and further broken down by construction period tax capture revenues, income tax capture revenues, sales and use tax capture revenues, tax increment revenues, and withholding tax capture revenues. Tax increment revenues must be further broken down by local taxes and taxes levied for school operating purposes. The department of treasury shall cooperate with the Michigan strategic fund as necessary to make the information required under this subsection available on the transformational brownfield program webpage. (l) A projected schedule of annual distributions of tax revenues in future years, broken down by construction period tax capture revenues, income tax capture revenues, sales and use tax capture revenues, tax increment revenues, and withholding tax capture revenues. Tax increment revenues must be further broken down by local taxes and taxes levied for school operating purposes. (m) A record of the total amount of transformational brownfield sales and use tax exemptions that have been paid each year under the transformational brownfield program since the enactment of the program, broken down by project name. (n) A projected schedule of annual transformational brownfield sales and use tax exemptions that will be provided in future years. (o) A list of each transformational brownfield plan approved under the transformational brownfield program since the enactment of the program and, for each plan listed, all of the following information, which information must be updated on a rolling basis, but not less than annually: (i) Subject to section 14a(15), the minimum amount of capital investment required under section 2(hhh). (ii) The actual level of capital investment. (iii) The amount of the significant equity contribution from the owner or developer described in section 14a(5). (3) For purposes of this section, a document is considered prepared or received by the Michigan strategic fund if the document is prepared or received by the Michigan strategic fund or an authorized officer, employee, or agent of the Michigan strategic fund, including the Michigan economic development corporation or an employee of the Michigan economic development corporation. (4) As used in this section: (a) "Michigan economic development corporation" means that term as defined in section 4 of the Michigan strategic fund act, 1984 PA 270, MCL 125.2004. (b) "Michigan strategic fund board" means the board of directors of the Michigan strategic fund under section 5 of the Michigan strategic fund act, 1984 PA 270, MCL 125.2005. (c) "State tax revenues" means construction period tax capture revenues, income tax capture revenues, sales and use tax capture revenues, and withholding tax capture revenues. (d) "Tax revenues" means state tax revenues and tax increment revenues. (e) "Total annual tax capture" means that term as defined in section 14a(19). (f) "Transformational brownfield program" means the program under this act pursuant to which transformational brownfield plans may be approved and implemented. (g) "Transformational brownfield program webpage" means the webpage for the transformational brownfield program required under subsection (1). (h) "Transformational brownfield sales and use tax exemptions" means the sales and use tax exemptions under section 4d(n) of the general sales tax act, 1933 PA 167, MCL 205.54d, and section 4dd of the use tax act, 1937 PA 94, MCL 205.94dd.