Sec. 21a.
(1) Except as otherwise provided in subsection (2) and section 21(9), the local governmental unit shall use the amount disbursed to the local governmental unit pursuant to section 21(4)(a) and (b) only to fund capital improvements identified in the spending plan that the local governmental unit submitted to the authority.
(2) Upon approval of the authority, the local governmental unit may utilize the funds described in subsection (1) for any purpose authorized under this act.
History: Add. 1994, Act 230, Imd. Eff. June 30, 1994
Structure Michigan Compiled Laws
Chapter 125 - Planning, Housing, and Zoning
Act 224 of 1985 - Enterprise Zone Act (125.2101 - 125.2123)
Section 125.2101 - Short Title.
Section 125.2102 - Legislative Findings.
Section 125.2103 - Definitions.
Section 125.2105 - Powers of Authority Vested in Members; Quorum; Action by Authority; Meetings.
Section 125.2106 - Powers and Duties of Authority Generally.
Section 125.2108 - Qualifying Local Governmental Units.
Section 125.2110 - Duties of Citizens' Council.
Section 125.2112 - Application to Have Area Approved as Enterprise Zone; Filing; Form; Contents.
Section 125.2114 - Application for Certification as Qualified Business; Procedure.
Section 125.2115 - Condition to Certification as Qualified Business.
Section 125.2116 - Effect of Transferring Employment From 1 or More Local Governmental Units.
Section 125.2117 - Allegations of Noncompliance; Procedure.
Section 125.2118 - Eligibility for Exemption, Credit, or Deduction.
Section 125.2119 - Duration of Exemption or Credit.
Section 125.2120 - Exemption From Ad Valorem Real and Personal Property Taxes.
Section 125.2120b - Additional Exemption From Ad Valorem Real and Personal Property Taxes.
Section 125.2121a - Use of Disbursement Pursuant to MCL 125.2121 (4)(a) and (B).