Sec. 12a.
The fund shall not provide a loan, loan insurance, or guarantee for a public work which assists a project or exercise any of its power in relation to a project if completion of the project will cause the transfer of employment of more than 20 full-time persons from 1 or more municipalities of the state to the municipality for which the loan, loan insurance, or guarantee is provided or in which the project is located unless all of the following are met:
(a) The fund provides notification to each municipality from which such employment is to be transferred.
(b) If any notified municipality objects within 30 days to the transfer of the employment, the board votes by a majority vote of its members to enter the transaction notwithstanding the employment transfer and the objections to the transfer.
History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund
Structure Michigan Compiled Laws
Chapter 125 - Planning, Housing, and Zoning
Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)
270-1984-1 - Chapter 1 (125.2001...125.2014)
Section 125.2001 - Legislative Finding and Declaration.
Section 125.2002 - Purposes of Act.
Section 125.2003 - Short Title.
Section 125.2004 - Definitions.
Section 125.2007 - Powers and Duties of Fund.
Section 125.2007a - Compliance With Divestment From Terror Act.
Section 125.2007b - Advisory Committee; Projects Relating to Port Facilities; Recommendations.
Section 125.2008 - Evaluation Procedures; Priorities; Targets.
Section 125.2010 - Applicability of Limitation or Restriction.
Section 125.2011 - Request for Assistance; Approval or Disapproval; Reconsideration.
Section 125.2012 - Private Sector Financial Support; Associated Transactions.
Section 125.2012a - Loan, Loan Insurance, or Guarantee for Public Work; Requirements.