Mich. Comp. Laws § 3.227
This is the official text of Mich. Comp. Laws § 3.227, part of Michigan’s Comp. Laws — part of the compiled statutory law of Michigan, published by the state as "Comp. Laws." Browse the sections below, each linked to its official government source.
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Basis for determination of amount of payment.
Official statutory text
Sec. 7.
The amount of any payment of sums in lieu of taxes may be based on the estimated cost to each political subdivision, for and on whose behalf an agreement is entered into, of performing services for the benefit of a project during the period of an agreement, after taking into consideration the benefits to be derived by each political subdivision from such project, but shall not be in excess of the taxes which would result to each political subdivision for said period if the real property of the project within each political subdivision were taxable.
History: 1941, Act 318, Eff. Jan. 10, 1942; CL 1948, 3.227
The amount of any payment of sums in lieu of taxes may be based on the estimated cost to each political subdivision, for and on whose behalf an agreement is entered into, of performing services for the benefit of a project during the period of an agreement, after taking into consideration the benefits to be derived by each political subdivision from such project, but shall not be in excess of the taxes which would result to each political subdivision for said period if the real property of the project within each political subdivision were taxable.
History: 1941, Act 318, Eff. Jan. 10, 1942; CL 1948, 3.227
Status: in_force · Read it on the official government site
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