Economic development: brownfield redevelopment authority; transformational brownfield plan; modify. Amends secs. 2 & 14a of 1996 PA 381 (MCL 125.2652 & 125.2664a).

HB 5101 modifies Michigan's Brownfield Redevelopment Financing Act to streamline funding for cleaning up and redeveloping contaminated properties. It updates definitions (like "blighted property" to include tax-reverted land and land bank properties) and creates a new "construction period tax capture" mechanism. This mechanism calculates income tax revenues from wages paid to workers during construction on eligible brownfield sites, directing those funds toward redevelopment costs. The bill directly affects municipalities, developers, and land banks managing brownfield sites by clarifying how tax revenues from new projects can be used to support cleanup and development. It aims to make the redevelopment process more efficient without changing the core purpose of the original law.