Private Activity Bond Program
Formerly known as Industrial Development Revenue Bonds (IDRB), the Private Activity Bond Program is yet another source of tax-exempt financial assistance for economic development projects in Michigan. Eligible projects include manufacturing projects, not-for-profit corporation projects, and solid or hazardous waste disposal facilities which serve the general public.
These private activity bonds are issued through the Michigan Strategic Fund and the maximum size of the bond is limited to $1 million free of any restrictions on capital expenditures, or $10 million subject to the condition that the company’s total capital expenditures in the locality over the period of three years before and three years after the date of issuance do not exceed $20 million. Visit www.michiganbusiness.org for more details.