Section 18.1751 – Short Title.
18.1751 Short title. Sec. 1. This act shall be known and may be cited as the “economic development incentive evaluation act”. History: 2018, Act 540, Imd. Eff. Dec. 28, 2018
Section 18.1753 – Definitions.
18.1753 Definitions. Sec. 3. As used in this act: (a) “Contractor” means the private entity, nonprofit entity, or academic institution selected by the department under section 5 to evaluate certain economic development incentives. (b) “Department” means the department of technology, management, and budget. (c) “Economic development incentive” means the abatements, tax credits, exemptions, grants, loans, […]
Section 18.1755 – Periodic Evaluation of Economic Development Incentives: Contract; Request for Proposals; Requirements; Timeline; Disclosure; Evaluations Published on Website and to Certain State Agencies.
18.1755 Periodic evaluation of economic development incentives: contract; request for proposals; requirements; timeline; disclosure; evaluations published on website and to certain state agencies. Sec. 5. (1) The department shall contract with 1 or more contractors for the periodic evaluation of economic development incentives. The department along with the department of treasury and the Michigan strategic […]
Section 18.1757 – Multiyear Schedule of Evaluations; Annual Update.
18.1757 Multiyear schedule of evaluations; annual update. Sec. 7. The department, in conjunction with the strategic fund and the department of treasury, shall, not later than February 28, 2019, develop a multiyear schedule that lists all economic development incentives and indicates the year when an economic development incentive evaluation will be published for each economic […]
Section 18.1759 – Periodic Evaluation Report Requirements & Recommendations; Disclosure of Methodology and Sources.
18.1759 Periodic evaluation report requirements & recommendations; disclosure of methodology and sources. Sec. 9. (1) Evaluations of economic development incentives shall include, to the extent practicable, all of the following: (a) A description of the history of the economic development incentive and its goals. (b) A literature review of the effectiveness of this type of […]