Michigan Compiled Laws Act 275 Of 2010 Next Michigan Development Act (125.2951 - 125.2959)

AN ACT to encourage the creation of next Michigan development corporations by interlocal agreement and to prescribe their powers and duties; to foster economic opportunities in this state and prevent conditions of unemployment and underemployment and to promote economic growth; to provide for the designation of next Michigan development districts and next Michigan development businesses; and to prescribe the powers and duties of certain state and local departments, entities, and officials.

History: 2010, Act 275, Imd. Eff. Dec. 15, 2010

Section 125.2951 Short Title.
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.
The legislature of this state finds and declares that there exists in this state the continuing need for programs to encourage economic development and...
Section 125.2953 Definitions.
As used in this act: (a) "Eligible act 7 entity" means a separate legal and administrative entity formed by interlocal agreement under the urban...
Section 125.2954 Next Michigan Development Corporation; Designation; Eligibility; Composition Of Territory; Parties To Interlocal Agreement; Application; Preference.
(1) An eligible act 7 entity may apply to the board of the Michigan strategic fund for designation as a next Michigan development corporation...
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.
(1) The board of the Michigan strategic fund, upon the filing of an application under section 4, may designate the applicant as a next...
Section 125.2956 Next Michigan Development Corporation; Powers, Duties, And Responsibilities.
(1) A next Michigan development corporation shall seek to attract eligible next Michigan businesses to its next Michigan development district and may exercise all...
Section 125.2957 Business Conducted At Public Meetings; Public Record; Confidentiality; "Financial Or Proprietary Information" Defined.
(1) The business of a next Michigan development corporation shall be conducted at public meetings held in compliance with the open meetings act, 1976...
Section 125.2958 Dissolution Or Termination; Validity Of Incentives Previously Granted.
In the event that a next Michigan development corporation dissolves or is terminated, all incentives previously granted by the next Michigan development corporation shall...
Section 125.2959 Construction And Interpretation Of Act.
This act shall be construed liberally to effectuate the legislative intent and purposes of this act as found and stated in section 2. This...

Last modified: October 10, 2016