Mich. Comp. Laws § 18.1751
Short title.
This act shall be known and may be cited as the "economic development incentive evaluation act".
Michigan Compiled Laws — ECONOMIC DEVELOPMENT INCENTIVE EVALUATION ACT (Act 540 of 2018)
Michigan · statute · 540 of 2018, Mich. Comp. Laws · 5 active provisions
Mich. Comp. Laws § 18.1753
Definitions.
As used in this act: (a) "Contractor" means the private entity, nonprofit entity, or academic institution selected by the department under section 5 to evaluate certain economic development incentives. (b) "Department" means the department of technology, management, and budget. (c) "Economic development incentive" mean…
Mich. Comp. Laws § 18.1755
Periodic evaluation of economic development incentives: contract; request for proposals; requirements; timeline; disclosure; evaluations published on website and to certain state agencies.
(1) The department shall contract with 1 or more contractors for the periodic evaluation of economic development incentives. The department along with the department of treasury and the Michigan strategic fund shall develop a scope of services for a request for proposals for professional services necessary to complete…
Mich. Comp. Laws § 18.1757
Multiyear schedule of evaluations; annual update.
The department, in conjunction with the strategic fund and the department of treasury, shall, not later than February 28, 2019, develop a multiyear schedule that lists all economic development incentives and indicates the year when an economic development incentive evaluation will be published for each economic develop…
Mich. Comp. Laws § 18.1759
Periodic evaluation report requirements & recommendations; disclosure of methodology and sources.
(1) Evaluations of economic development incentives shall include, to the extent practicable, all of the following: (a) A description of the history of the economic development incentive and its goals. (b) A literature review of the effectiveness of this type of incentive, including an inventory of similar incentives in…