Michigan § 125.4412e - Notice of designation of Next Michigan development area; marketing of authority district by Michigan economic development corporation; pledge to support tax increment bonds.
Full text of Michigan Michigan Compiled Laws § 125.4412e — Notice of designation of Next Michigan development area; marketing of authority district by Michigan economic development corporation; pledge to support tax increment bonds., with citation guidance and answers to common questions.
§ 125.4412e. Notice of designation of Next Michigan development area; marketing of authority district by Michigan economic development corporation; pledge to support tax increment bonds.
(1) A Next Michigan development corporation establishing an authority under section 403(3) shall notify the Michigan economic development corporation of the designation of a Next Michigan development area.
(2) The Michigan economic development corporation shall market the authority district including Next Michigan development areas.
(3) For an authority exercising its powers under section 403(3), each municipality and county which is a party to the interlocal agreement establishing the Next Michigan development corporation, or any 1 of them, by a majority vote of the members of its governing body, may make a limited tax pledge to support the authority's tax increment bonds issued under section 414 or, if authorized by the voters of the municipality or county, may pledge its full faith and credit for the payment of the principal of and interest on the bonds. The municipalities or counties that have made a pledge to support the authority's tax increment bonds may approve by resolution an agreement among themselves establishing obligations each may have to the other party or parties to the agreement for reimbursement of all or any portion of a payment made by a municipality or county related to its pledge to support the authority's tax increment bonds.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 125.4412e
What does Michigan Compiled Laws § 125.4412e cover?
Section 125.4412e ("Notice of designation of Next Michigan development area; marketing of authority district by Michigan economic development corporation; pledge to support tax increment bonds.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 125.4412e?
A common citation format is "Michigan Compiled Laws § 125.4412e" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 125.4412e apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.