Michigan Laws 124.752 – Legislative findings
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Terms Used In Michigan Laws 124.752
- Authority: means a land bank fast track authority created under section 15, section 23(4), or section 23(5). See Michigan Laws 124.753
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
- Tax reverted property: means property that meets 1 or more of the following criteria:
(i) The property was conveyed to this state under former section 67a of the general property tax act, 1893 PA 206, and subsequently was not sold at a public auction under former section 131 of the general property tax act, 1893 PA 206, except property described in former section 131 of the general property tax act, 1893 PA 206, that is withheld from sale by the director of the department of natural resources as authorized in that section. See Michigan Laws 124.753
The legislature finds that there exists in this state a continuing need to strengthen and revitalize the economy of this state and local units of government in this state and that it is in the best interests of this state and local units of government in this state to assemble or dispose of public property, including tax reverted property, in a coordinated manner to foster the development of that property and to promote economic growth in this state and local units of government in this state. It is declared to be a valid public purpose for a land bank fast track authority created under this act to acquire, assemble, dispose of, and quiet title to property under this act. It is further declared to be a valid public purpose for a land bank fast track authority created under this act to provide for the financing of the acquisition, assembly, disposition, and quieting of title to property, and for a land bank fast track authority to exercise other powers granted to a land bank fast track authority under this act. The legislature finds that a land bank fast track authority created under this act and powers conferred by this act constitute a necessary program and serve a necessary public purpose.