Section 125.2951 – Short Title.

125.2951 Short title. Sec. 1. This act shall be known and may be cited as the “next Michigan development act”. History: 2010, Act 275, Imd. Eff. Dec. 15, 2010

Section 125.2952 – Legislative Findings; Declaration.

125.2952 Legislative findings; declaration. Sec. 2. 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 […]

Section 125.2953 – Definitions.

125.2953 Definitions. Sec. 3. 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 […]

Section 125.2954 – Next Michigan Development Corporation; Designation; Eligibility; Composition of Territory; Parties to Interlocal Agreement; Application; Preference.

125.2954 Next Michigan development corporation; designation; eligibility; composition of territory; parties to interlocal agreement; application; preference. Sec. 4. (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 […]

Section 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.

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. Sec. 5. (1) The board of the Michigan strategic fund, upon the filing of an application under section 4, may designate the […]

Section 125.2956 – Next Michigan Development Corporation; Powers, Duties, and Responsibilities.

125.2956 Next Michigan development corporation; powers, duties, and responsibilities. Sec. 6. (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, […]

Section 125.2957 – Business Conducted at Public Meetings; Public Record; Confidentiality; “Financial or Proprietary Information” Defined.

125.2957 Business conducted at public meetings; public record; confidentiality; “financial or proprietary information” defined. Sec. 7. (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 […]

Section 125.2958 – Dissolution or Termination; Validity of Incentives Previously Granted.

125.2958 Dissolution or termination; validity of incentives previously granted. Sec. 8. 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 […]

Section 125.2959 – Construction and Interpretation of Act.

125.2959 Construction and interpretation of act. Sec. 9. 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 […]