State finance: authorities; land bank fast track act taxable status; modify. Amends secs. 4, 13 & 14 of 2003 PA 258 (MCL 124.754 et seq.).

This bill modifies the Michigan Land Bank Fast Track Act to clarify the powers and tax status of land bank authorities. It explicitly grants these authorities broad operational abilities, such as borrowing money, entering contracts, hiring staff, and managing or selling real property. The legislation also reinforces that land bank property and income are exempt from state and local taxes and special assessments, while adding new requirements for ethics codes and conflict of interest disclosures. Additionally, the bill prohibits land banks from assisting in casino development and confirms they cannot exercise eminent domain.