Mich. Comp. Laws § 125.2951
Short title.
This act shall be known and may be cited as the "next Michigan development act".
Michigan Compiled Laws — NEXT MICHIGAN DEVELOPMENT ACT (Act 275 of 2010)
Michigan · statute · 275 of 2010, Mich. Comp. Laws · 9 active provisions
Mich. Comp. Laws § 125.2952
Legislative findings; declaration.
The legislature of this state finds and declares that there exists in this state the continuing need for programs to encourage economic development and investment, job creation and job retention, and ancillary economic growth in this state. To achieve these purposes, it is necessary to assist and encourage the creation…
Mich. Comp. Laws § 125.2953
Definitions.
As used in this act: (a) "Eligible act 7 entity" means a separate legal and administrative entity formed by interlocal agreement under the urban cooperation act of 1967, 1967 (Ex Sess) PA 7, MCL 124.501 to 124.512, among 2 or more local governmental units, at least 1 of which shall be a county, and at least 1 of which…
Mich. Comp. Laws § 125.2954
Next Michigan development corporation; designation; eligibility; composition of territory; parties to interlocal agreement; application; preference.
(1) An eligible act 7 entity may apply to the board of the Michigan strategic fund for designation as a next Michigan development corporation under this act. An eligible urban entity may apply to the board of the Michigan strategic fund for designation as a next Michigan development corporation under this act. An eligi…
Mich. Comp. Laws § 125.2955
Next Michigan development corporation; designation by board of Michigan strategic fund; limitation on number designated; development of application form and process; criteria; grant or denial of designation within certain time period; limitation.
(1) The board of the Michigan strategic fund, upon the filing of an application under section 4, may designate the applicant as a next Michigan development corporation. No more than 7 next Michigan development corporations may be designated in this state. The president of the Michigan strategic fund shall develop the f…
Mich. Comp. Laws § 125.2956
Next Michigan development corporation; powers, duties, and responsibilities.
(1) A next Michigan development corporation shall seek to attract eligible next Michigan businesses to its next Michigan development district and may exercise all of the powers, privileges, and responsibilities granted to it under state law, including, but not limited to, the powers, privileges, and responsibilities gr…
Mich. Comp. Laws § 125.2957
Business conducted at public meetings; public record; confidentiality; "financial or proprietary information" defined.
(1) The business of a next Michigan development corporation shall be conducted at public meetings held in compliance with the open meetings act, 1976 PA 267, MCL 15.261 to 15.275. Public notice of the time, date, and place of a meeting shall be given as provided by the open meetings act, 1976 PA 267, MCL 15.261 to 15.2…
Mich. Comp. Laws § 125.2958
Dissolution or termination; validity of incentives previously granted.
In the event that a next Michigan development corporation dissolves or is terminated, all incentives previously granted by the next Michigan development corporation shall be unaffected by the dissolution and shall remain valid and in full force and effect in accordance with their respective terms. Incentives previously…
Mich. Comp. Laws § 125.2959
Construction and interpretation of act.
This act shall be construed liberally to effectuate the legislative intent and purposes of this act as found and stated in section 2. This act constitutes complete and independent authority for the performance of each and every act and thing authorized by this act, and all powers granted by this act shall be broadly in…