Michigan Compiled Laws
Chapter 125 - Planning, Housing, and Zoning
Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)

Section 125.2005 - Michigan Strategic Fund; Creation; Purposes, Powers, Duties, and Functions Generally; Appointment, Qualifications, and Terms of Members; Chairperson, President, and Vice-President; Compensation and Expenses; Delegation of Functions... - Sec. 5. (1) There is created by this act a...

Section 125.2006 - Members, Officers, and Employees Subject to MCL 15.321 to 15.330 or MCL 15.301 to 15.310; Discharge of Duties by Member, Officer, Employee, or Agent; Prohibited Conduct; Conflict of Interest; Noncompliance; Expenditures. - Sec. 6. (1) Notwithstanding section 3(1) of 1968 PA 317,...

Section 125.2007 - Powers and Duties of Fund. - Sec. 7. The fund shall have the powers and duties...

Section 125.2007a - Compliance With Divestment From Terror Act. - Sec. 7a. The board shall comply with the divestment from...

Section 125.2007b - Advisory Committee; Projects Relating to Port Facilities; Recommendations. - Sec. 7b. (1) The governor shall establish and appoint an...

Section 125.2008 - Evaluation Procedures; Priorities; Targets. - Sec. 8. (1) The fund shall develop procedures to evaluate...

Section 125.2009 - Activities Report; Contents; Audit; Providing and Posting Information Regarding Actions Under Chapter 8c; Posting Loan or Grant Documentation and Information Regarding Programs Providing Financial Assistance; "Financial Assistance"... - Sec. 9. (1) The fund shall transmit to each member...

Section 125.2010 - Applicability of Limitation or Restriction. - Sec. 10. If the exercise of a power granted to...

Section 125.2011 - Request for Assistance; Approval or Disapproval; Reconsideration. - Sec. 11. Within 90 days after assistance for a project...

Section 125.2012 - Private Sector Financial Support; Associated Transactions. - Sec. 12. (1) Significant private sector financial support shall be...

Section 125.2012a - Loan, Loan Insurance, or Guarantee for Public Work; Requirements. - Sec. 12a. The fund shall not provide a loan, loan...

Section 125.2013 - Total Debt Owed to Fund; Limitation. - Sec. 13. The total debt owed to the fund, excluding...

Section 125.2014 - Loans and Transactions. - Sec. 14. A loan made by the fund pursuant to...

270-1984-2 - Chapter 2 (125.2021...125.2026)

Section 125.2021 - Job Development Authority and Michigan Economic Development Authority; Acquisitions and Succession by Fund to Rights, Properties, Obligations, and Duties Thereof. - Sec. 21. Upon the expiration of 180 days after the...

Section 125.2022 - Economic Development Fund; Succession by Fund to Ownership and Operation Thereof; Payments Pursuant to Heritage Trust Act of 1982; Appropriation; Utilization and Expenditure of Money; Priorities; Transfer and Repayments of Money; U... - Sec. 22. (1) Upon the expiration of 180 days after...

Section 125.2023 - Bonds or Notes. - Sec. 23. (1) The fund may borrow money and issue...

Section 125.2024 - Contracts for Management and Operation of Fund. - Sec. 24. The fund, in its discretion, may contract with...

Section 125.2025 - Actions by Fund; Equal Opportunity Criteria; Considerations When Entering Transaction. - Sec. 25. All actions taken by the fund shall be...

Section 125.2026 - Staff and Other Support; Cooperation of State Agencies. - Sec. 26. (1) If requested by the fund, the department...

270-1984-2A - Chapter 2a (125.2029...125.2029h)

Section 125.2029 - Definitions. - Sec. 29. As used in this chapter: (a) "Commissioner" means...

Section 125.2029a - Michigan Film Office; Creation in Fund; Successor Office; Duties; Powers; Budget, Procurement, and Management Functions; Administration by Commissioner and President of Fund; Support Staff; Cooperation With Departments, Agencies,... - Sec. 29a. (1) The Michigan film office is created in...

Section 125.2029b - Michigan Film Commissioner; Member of State Classified Service; Terms and Conditions of Employment; Agreement; Term; Oath of Office; Service as Advisor; Duties; Meetings; Exercise of Powers, Duties, Functions, and Responsibilities... - Sec. 29b. (1) The head of the office shall be...

Section 125.2029c - Michigan Film Office Advisory Council; Creation; Membership; Chairperson, Vice-Chairperson, and Officers; Terms; Vacancy; Compensation; Duties; Public Meeting; Quorum; Writings; Confidentiality; Use of Information for Personal Gai... - Sec. 29c. (1) The Michigan film office advisory council is...

Section 125.2029d - Michigan Film Promotion Fund; Creation Within State Treasury; Receipt of Money or Other Assets; Investment; Money Remaining in Fund at Close of Fiscal Year; Expenditure; Transfer and Deposit of Funds. - Sec. 29d. (1) The Michigan film promotion fund is created...

Section 125.2029e - Michigan Economic Development Corporation; Joint Exercise of Power. - Sec. 29e. The powers and duties of the fund under...

Section 125.2029f - Representation as Employee or Agent of Office, Commissioner, or Council; Authorization Required; Violation as Misdemeanor; Penalty. - Sec. 29f. (1) A person who is not an agent...

Section 125.2029g - Transfer of Records, Personnel, Property, Grants, and Unexpended Balances. - Sec. 29g. (1) All records, personnel, property, grants, and unexpended...

Section 125.2029h - Film and Digital Media Production Assistance Program; Funding Prohibited; Applications; Priority; Provisions; Submission of Application; Form; Fee; Agreement; Determination; Factors; Award; Fraudulent or False Information; Penalty... - Sec. 29h. (1) The Michigan film office shall create and...

270-1984-3 - Chapter 3 (125.2031...125.2037)

Section 125.2031 - Center for Assistance to Private Enterprise; Establishment and Operation. - Sec. 31. The fund shall establish and operate a center...

Section 125.2032 - Private Enterprise Assistance Account; Payments Into Account; Transfer of Money. - Sec. 32. (1) The center for assistance to private enterprise...

Section 125.2033 - Loans, Limitations. - Sec. 33. Subject to the limitations provided by this chapter,...

Section 125.2034 - Loans, Grants, or Investments; Limitations; Condition. - Sec. 34. (1) Subject to the limitations provided by this...

Section 125.2035 - Loans; Use; Recipients; Terms and Conditions. - Sec. 35. (1) Loans made from the private enterprise assistance...

Section 125.2036 - Loan for Economic Development Project; Legal Assurance as to Use of Money. - Sec. 36. (1) A loan shall not be made from...

Section 125.2037 - Paramount Priority in Making Loans. - Sec. 37. The fund shall give paramount priority in making...

270-1984-3A - Chapter 3a (125.2038...125.2039)

Section 125.2038 - Legislative Findings and Declaration; Intent. - Sec. 38. (1) The legislature finds and declares that the...

Section 125.2039 - Michigan Promotion Fund; Creation; Administration; Use; Credit of Amounts; Investment; Disbursement; Borrowing Money and Issuing Notes; Appropriation. - Sec. 39. (1) The Michigan promotion fund is created as...

270-1984-4 - Chapter 4 (125.2041...125.2049a)

Section 125.2041 - "Public Work" Defined. - Sec. 41. As used in this chapter, "public work" means...

Section 125.2042 - Center for Assistance to Local Government; Establishment and Operation. - Sec. 42. The fund shall establish and operate a center...

Section 125.2043 - Local Government Assistance Account; Payments Into Account; Transfer of Money. - Sec. 43. (1) The center for assistance to local government...

Section 125.2044 - Utilization of Money; Purposes. - Sec. 44. Subject to the limitations provided by this chapter,...

Section 125.2045 - Loans, Loan Insurance, or Guarantees; Requirements. - Sec. 45. Loans, loan insurance, or guarantees provided pursuant to...

Section 125.2046 - Loans, Loan Insurance, or Guarantees; Limitation; Lawful Public Improvement; Prohibition; Application. - Sec. 46. (1) A loan, loan insurance, or a loan...

Section 125.2047 - Borrowing or Contracting for Loan Insurance and Loan Guarantees; Debt Limitation; Approval; Certain Acts Inapplicable. - Sec. 47. A municipality is hereby authorized to borrow or...

Section 125.2048 - Loans, Loan Insurance, or Loan Guarantees; Terms and Conditions. - Sec. 48. Loans, loan insurance, or loan guarantees provided from...

Section 125.2049 - Loans, Loan Insurance, or Loan Guarantees; Conditions. - Sec. 49. A loan, loan insurance, or loan guarantee shall...

Section 125.2049a - Paramount Priority. - Sec. 49a. The fund shall give paramount priority in providing...

270-1984-5 - Chapter 5 (125.2051...125.2058)

Section 125.2051 - Center for Loan Insurance; Establishment and Operation. - Sec. 51. The fund shall establish and operate a center...

Section 125.2052 - Loan Insurance Account; Payments Into Accounts; Transfer of Money. - Sec. 52. (1) The center for loan insurance shall be...

Section 125.2053 - Powers of Fund Through Center for Loan Insurance. - Sec. 53. (1) The fund, through the center for loan...

Section 125.2054 - Contract of Insurance. - Sec. 54. To provide loan insurance pursuant to section 53,...

Section 125.2055 - Insurance, Guarantees, or Letters of Credit; Limitation; Paramount Priority. - Sec. 55. (1) Insurance, guarantees, or letters of credit provided...

Section 125.2056 - Insurance, Guarantees, or Letters of Credit; Legal Assurance of Use; Terms and Conditions; Premiums or Fees; Guidelines. - Sec. 56. (1) Insurance, guarantees, or letters of credit shall...

Section 125.2057 - Agreements With Lenders. - Sec. 57. The fund may enter into agreements with lenders...

Section 125.2058 - Special Fund; Purpose. - Sec. 58. The fund may establish a special fund or...

270-1984-6 - Chapter 6 (125.2061...125.2069a)

Section 125.2061 - Definitions. - Sec. 61. As used in this chapter: (a) "MESBIC" means...

Section 125.2062 - Center for Minority Venture Capital; Establishment and Operation. - Sec. 62. The fund shall establish and operate a center...

Section 125.2063 - Certification of Minority Venture Capital Company and Mesbic; Purpose; Construction of Certification; Statement in Documents; Forwarding Certification Applications; Qualifications for Initial Certification; Compliance. - Sec. 63. (1) The fund is empowered to certify a...

Section 125.2064 - Considerations Prior to Certification. - Sec. 64. The fund shall also consider, prior to certifying...

Section 125.2065 - Percentage of Venture Capital Investments; Encouraging Certified Mesbic to Meet Investment Requirements; “Investment” Defined. - Sec. 65. (1) Sixty-five percent of investments of a certified...

Section 125.2066 - Minority Venture Capital Company as Certified Mesbic. - Sec. 66. A minority venture capital company certified under this...

Section 125.2067 - Independent Program Audit. - Sec. 67. A certified minority venture capital company and a...

Section 125.2068 - Effective Date and Duration of Certification; Eligibility as Recipient of Investments; Approval and Effect of Tax Credit Disqualification. - Sec. 68. (1) Unless revoked, a certification provided under this...

Section 125.2069 - Revocation of Certification; Notice; Remedying Deficiencies and Complying With Requirements; Determination. - Sec. 69. If the fund finds that a certified minority...

Section 125.2069a - Tax Credit Certification; Information; Report. - Sec. 69a. (1) Upon written request to the fund not...

270-1984-7 - Chapter 7 (125.2071...125.2079)

Section 125.2071 - Definitions. - Sec. 71. As used in this chapter: (a) "Economic development...

Section 125.2072 - Center for Research and Development; Establishment and Operation. - Sec. 72. The fund shall establish and operate a center...

Section 125.2073 - Research Center Fund; Payments Into Fund; Transfer of Money. - Sec. 73. (1) The center for research and development shall...

Section 125.2074 - Research Center Fund; Use of Money; Purpose; Obligations of Present or Emerging Technologies; Purposes of Financial Aid; Terms and Conditions of Financial Aid; Minimum Financial Aid Grant; Payment; Tax Exemption. - Sec. 74. (1) The fund may utilize the money held...

Section 125.2075 - Business Plan. - Sec. 75. In providing financial aid under this chapter, the...

Section 125.2076 - Scope of Succession to Rights, Properties, Obligations, and Duties of Michigan Economic Development Authority; Payments in Research Center Fund. - Sec. 76. The succession of the fund to all rights,...

Section 125.2077 - Higher Education Coordination Council; Membership. - Sec. 77. The fund shall appoint a higher education coordination...

Section 125.2078 - Service Station Matching Grant Program. - Sec. 78. (1) The fund shall create and administer a...

Section 125.2079 - Location of Renewable Fuel Plants; Inventory of Prime Sites; Availability on Internet; Assistance. - Sec. 79. (1) The fund shall identify, publish, and market...

270-1984-8 - Chapter 8 (125.2081...125.2087)

Section 125.2081 - “Economic Development Fund” Defined. - Sec. 81. As used in this chapter, "economic development fund"...

Section 125.2082 - Center for Product Development; Establishment and Operation. - Sec. 82. The fund shall establish and operate a center...

Section 125.2083 - Product Development Program Account; Payments Into Account; Transfer or Deposit of Money. - Sec. 83. (1) The center for product development shall be...

Section 125.2084 - Product Development Program Account; Utilization of Money; Purpose; Terms and Conditions of Financial Aid; Condition to Financial Aid. - Sec. 84. (1) The fund may utilize the money held...

Section 125.2085 - Recipients of Financial Aid. - Sec. 85. Financial aid provided from the product development program...

Section 125.2086 - Amount of Financial Aid and Terms of Venture Agreement; Evaluation and Examination. - Sec. 86. In determining the amount of financial aid to...

Section 125.2086a - Financial Aid to Nonprofit Corporation; Powers and Duties of Corporation; Fund as Party to Venture Agreement; Provisions of Venture Agreement. - Sec. 86a. (1) The fund may provide financial aid to...

Section 125.2087 - Advisory Panel; Purpose; Membership; Report; Recommendation. - Sec. 87. An advisory panel shall be convened by the...

270-1984-8A - Chapter 8a (125.2088...125.2088t)

Section 125.2088 - Legislative Findings; Intent; Scope of Activities. - Sec. 88. (1) The legislature finds and declares that the...

Section 125.2088a - Definitions. - Sec. 88a. As used in this chapter: (a) "Advanced automotive,...

Section 125.2088b - Programs Created and Operated by Fund Board; Expenditures or Investments; Use of Appropriated or Transferred Money; Fees; Restriction; Selection of Vendors; Expenditure of Funds Without Further Appropriation. - Sec. 88b. (1) The fund shall create and operate programs...

Section 125.2088c - Duties of Fund Board; Definitions. - Sec. 88c. (1) The fund board shall exercise the duties...

Section 125.2088d - Loan Enhancement Program; Loan Guarantee Program; Small Business Capital Access Program; Michigan Film and Digital Media Investment Loan Program; Choose Michigan Film and Digital Media Loan Fund; Choose Michigan Fund Program; Mich... - Sec. 88d. (1) The fund shall create and operate a...

Section 125.2088e - Private Equity Investment Program. - Sec. 88e. When creating programs for 21st century investments under...

Section 125.2088f - Venture Capital Investment Program. - Sec. 88f. (1) When creating programs for 21st century investments...

Section 125.2088g - Mezzanine Investment Program. - Sec. 88g. When creating programs for 21st century investments under...

Section 125.2088h - Investment Fund; Creation; Duties of Fund Board. - Sec. 88h. (1) The jobs for Michigan investment fund is...

Section 125.2088i - Office of Chief Compliance Officer. - Sec. 88i. (1) The office of the chief compliance officer...

Section 125.2088j - Disbursements. - Sec. 88j. (1) Upon request from the fund board, the...

Section 125.2088k - Strategic Economic Investment and Commercialization Board; Creation; Powers, Duties, and Authority; Award of Grants and Loans; Duties of Fund; Standards for Expenditures of Money; Reasons for Selection of Grant Recipient. - Sec. 88k. (1) The strategic economic investment and commercialization board...

Section 125.2088l - Commercialization Board; Membership; Appointment; Terms; Vacancy; Chairperson, Vice-Chairperson, and Secretary; Oath of Office; Compensation; Reimbursement for Expenses; Organization; Quorum; Business Conducted at Public Meetings. - Sec. 88l . (1) The commercialization board shall consist of...

Section 125.2088m - Member, Employee, or Agent of Commercialization Board; Conduct. - Sec. 88m. (1) Notwithstanding section 3(1) of 1968 PA 317,...

Section 125.2088n - Access to Books and Records by Auditor General; Separate Audit; Requirement That Recipient Provide Information Necessary for Production of Reports. - Sec. 88n. (1) All contracts approved by the fund for...

Section 125.2088o - Technology Transfer Acceleration Program. - Sec. 88o. The fund shall create and operate a program...

Section 125.2088p - Michigan Life Sciences Pipeline; Establishment; Purpose; Commencement of Operations; Awards; Selection of Pipeline Operator; Request for Proposals; Contract; Duration; Report; "Pipeline" Defined. - Sec. 88p. (1) The fund shall establish a Michigan life...

Section 125.2088q - Center of Innovation Program; Definitions. - Sec. 88q. (1) The fund may create and operate a...

Section 125.2088r - Michigan Business Development Program; Posting Certain Information on Website; Finding and Declaration of Public Purpose; Definitions. - Sec. 88r. (1) The fund shall create and operate the...

Section 125.2088s - Critical Industry Program. - Sec. 88s. (1) The fund shall create and operate the...

Section 125.2088t - Michigan Strategic Site Readiness Program. - Sec. 88t. (1) The fund shall create and operate the...

270-1984-8B - Chapter 8b (125.2089...125.2089d)

Section 125.2089 - Legislative Findings; Intent; Scope of Activities. - Sec. 89. (1) The legislature finds and declares that the...

Section 125.2089a - Michigan Promotion Program; Establishment; Tourism Promotion Explained; Funding; Use of Appropriation Provided From 21st Century Jobs Trust Fund. - Sec. 89a. (1) The board shall establish a Michigan promotion...

Section 125.2089b - Michigan Promotion Program; Appropriation and Transfer of Funds; Appropriation as Work Project; Carrying Forward Unencumbered or Unallotted Funds; Compliance With MCL 18.1451a. - Sec. 89b. (1) For the fiscal year ending September 30,...

Section 125.2089c - Selection of Vendors; Request for Proposal; Evaluation of Proposals; Establishment of Standard Process; Appointment of Committee to Review Proposals; Use of Funds; Limitation. - Sec. 89c. (1) The fund board shall select vendors for...

Section 125.2089d - Repealed. 2014, Act 454, Eff. Jan. 14, 2015. - Compiler's Notes: The repealed section pertained to information to be...

270-1984-8C - Chapter 8c (125.2090...125.2090d)

Section 125.2090 - Community Revitalization; Findings and Declarations. - Sec. 90. The legislature finds and declares that any activity...

Section 125.2090a - Definitions. - Sec. 90a. As used in this chapter: (a) "Community revitalization...

Section 125.2090b - Michigan Community Revitalization Program; Community Revitalization Incentives; Placement of Funds in 21st Century Jobs Trust Fund; Application; Criteria; Approval or Denial; Limitation on Amount of Loans, Grants, and Other Econom... - Sec. 90b. (1) The fund shall create and operate the...

Section 125.2090c - Community Revitalization Grant; Application; Assignment; Form; Determination; Issuance of Grant Proceeds. - Sec. 90c. Upon satisfying a milestone established in a written...

Section 125.2090d - Milestone; Application for Loan Disbursement; Assignment; Distribution; Repayment Provision; Posting Information on Internet Website. - Sec. 90d. (1) Upon satisfying a milestone established in a...

270-1984-8D - Chapter 8d (125.2090g...125.2090j)

Section 125.2090g - Definitions. - Sec. 90g. As used in this chapter: (a) "Authorized business"...

Section 125.2090h - Good Jobs for Michigan Program; Creation and Operation by Fund; Transfer of Dedicated Portion of Withholding Tax Capture Revenues to Businesses; Application; Requirements; Determination of Amount and Duration; Limitation; Factors;... - Sec. 90h. (1) The fund shall create and operate the...

Section 125.2090i - Withholdings Certificate; Issuance; Contents; Request for Payment; Failure of Authorized Business to Satisfy and Maintain Jobs and Other Conditions; Forfeiture of Payment; Assignment or Transfer of Written Agreement; Retention of... - Sec. 90i. (1) Subject to the limitations under section 90h(9),...

Section 125.2090j - Good Jobs for Michigan Fund; Creation; Deposit of Money or Other Assets; Investment; Interest and Earnings; Money Remaining in Fund; Use. - Sec. 90j. (1) The good jobs for Michigan fund is...

270-1984-8E - Chapter 8e (125.2090l...125.2090r)

Section 125.2090l - Definitions. - Sec. 90l. As used in this chapter: (a) "Affiliate" means...

Section 125.2090m - Rural Jobs and Capital Investment Fund; Application; Qualifications; Duties. - Sec. 90m. (1) Beginning 90 days after the effective date...

Section 125.2090n - Rural Jobs and Capital Investment Creation Fund; Creation; Deposit of Money or Other Assets; Investment; Interest and Earnings; Money Remaining in Fund; Use. - Sec. 90n. (1) The rural jobs and capital investment creation...

Section 125.2090o - Demand for Repayment; Conditions; Growth Investments; Notification. - Sec. 90o. (1) The fund shall demand immediate repayment of...

Section 125.2090p - Annual Report; Compliance. - Sec. 90p. (1) A rural jobs and capital investment fund...

Section 125.2090q - Annual Fee. - Sec. 90q. (1) The fund shall charge an annual fee...

Section 125.2090r - Withdrawal From Rural Jobs and Capital Investment Program. - Sec. 90r. (1) On or after the sixth anniversary of...

270-1984-9 - Chapter 9 (125.2091...125.2094)

Section 125.2091 - Liberal Construction; Broad Interpretation. - Sec. 91. This act shall be construed liberally to effectuate...

Section 125.2092 - Repeal of MCL 125.1701 to 125.1770 and MCL 125.1901 to 125.1934. - Sec. 92. The following acts and parts of acts are...

Section 125.2093 - Severability. - Sec. 93. If any section, subsection, paragraph, clause, or provision...

Section 125.2094 - Duties of Governor. - Sec. 94. (1) The governor shall inquire into the administration...

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Michigan Compiled Laws Chapter 125 - Planning, Housing, and Zoning Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)

Michigan Compiled Laws
Chapter 125 - Planning, Housing, and Zoning
Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)