Sec. 31.
The fund created in section 19 shall expire on January 1, 2030. Any money in the fund, subject to all outstanding debts and obligation of the Michigan early stage venture investment corporation being defeased and satisfied, shall be distributed with the first $140,000,000.00 going to the general fund of this state and any remaining going to the 21st century jobs trust fund established in section 7 of the Michigan trust fund act, 2000 PA 489, MCL 12.257.
History: 2003, Act 296, Imd. Eff. Jan. 8, 2004 ;-- Am. 2015, Act 193, Imd. Eff. Nov. 16, 2015
Structure Michigan Compiled Laws
Chapter 125 - Planning, Housing, and Zoning
Act 296 of 2003 - Michigan Early Stage Venture Investment Act of 2003 (125.2231 - 125.2263)
Section 125.2231 - Short Title.
Section 125.2232 - Legislative Findings; Declaration.
Section 125.2233 - Definitions.
Section 125.2235 - Incorporation as Nonprofit Corporation.
Section 125.2237 - Articles of Incorporation; Contents.
Section 125.2241 - Filing With State Treasurer; Exception.
Section 125.2243 - Board of Directors.
Section 125.2247 - Agreements With Investors; Modification of Existing Agreement.
Section 125.2251 - Annual Financial Audit.
Section 125.2253 - Tax Voucher Certificates.
Section 125.2255 - Construction of Act.
Section 125.2257 - Annual Report.
Section 125.2259 - Actions Required.