Michigan Compiled Laws Act 376 Of 1996 Michigan Renaissance Zone Act (125.2681 - 125.2696)

AN ACT to create and expand certain renaissance zones; to foster economic opportunities in this state; to facilitate economic development; to stimulate industrial, commercial, and residential improvements; to prevent physical and infrastructure deterioration of geographic areas in this state; to authorize expenditures; to provide exemptions and credits from certain taxes; to create certain obligations of this state and local governmental units; to require disclosure of certain transactions and gifts; to provide for appropriations; and to prescribe the powers and duties of certain state and local departments, agencies, and officials.

History: 1996, Act 376, Imd. Eff. July 17, 1996 ;-- Am. 1999, Act 98, Eff. Oct. 11, 1999

Section 125.2681 Short Title.
This act shall be known and may be cited as the “Michigan renaissance zone act”. History: 1996, Act 376, Imd. Eff. July 17, 1996...
Section 125.2682 Legislative Findings And Declarations.
The legislature of this state finds and declares that there exists in this state continuing need for programs to assist certain local governmental units...
Section 125.2683 Definitions.
As used in this act: (a) "Agricultural processing facility" means 1 or more facilities or operations that transform, package, sort, or grade livestock or...
Section 125.2684 Designation Of Local Governmental Unit As Renaissance Zone; Application; Criteria; Additional Distinct Geographic Areas; Extension Of Status; Resubmission.
(1) One or more qualified local governmental units may apply to the review board to designate the qualified local governmental unit or units as...
Section 125.2685 Renaissance Zone Review Board; Creation; Membership; Review Of Applications; Recommendations; Submission Date; Compensation; Reimbursement For Travel And Expenses.
(1) The renaissance zone review board is created. The review board shall consist of the board of the Michigan strategic fund described in section...
Section 125.2686 State Administrative Board; Duties; Prohibitions; Modification Of Renaissance Zone Boundaries.
(1) The board shall review all recommendations submitted by the review board and determine which applications meet the criteria contained in section 7. (2)...
Section 125.2687 Renaissance Zone; Designation; Criteria; Resolution; Report Of Transaction With Or Gift To Official Or Employee Of Local Governmental Unit.
(1) The board shall consider the following criteria in designating a renaissance zone: (a) Shall give priority to applications that include new business activity....
Section 125.2688 Designation Of Renaissance Zones; Limitation; Additional Zones; Submission Of Designations To Legislature; Rejection Of Designations By Concurrent Resolution.
(1) Except as otherwise provided in this act, the board shall not designate more than 9 renaissance zones within this state. Not more than...
Section 125.2688a Additional Renaissance Zones; Designation; Property Located In Alternative Energy Zone; Definitions.
(1) Except as provided in subsections (2), (3), and (4), the board shall not designate more than 9 additional renaissance zones within this state...
Section 125.2688b Applicability Of Mcl 15.261 To 15.275 To Local Governmental Units.
It is the intent of the legislature that local governmental units subject to this act shall follow all state statutes that relate to condemnation...
Section 125.2688c Additional Renaissance Zones For Agricultural Processing Facilities.
(1) The board, upon recommendation of the board of the Michigan strategic fund defined in section 4 of the Michigan strategic fund act, 1984...
Section 125.2688d Tool And Die Renaissance Recovery Zones; Definitions.
(1) The board of the Michigan strategic fund described in section 4 of the Michigan strategic fund act, 1984 PA 270, MCL 125.2004, may...
Section 125.2688e Designation Of Additional Renaissance Zones For Renewable Energy Facilities.
(1) The board, upon recommendation of the board of the Michigan strategic fund defined in section 4 of the Michigan strategic fund act, 1984...
Section 125.2688f Forest Products Processing Facility; Designation Of Additional Renaissance Zones.
(1) The board, upon recommendation of the board of the Michigan strategic fund defined in section 4 of the Michigan strategic fund act, 1984...
Section 125.2688g Border Crossing Facilities; Designation Of Additional Facilities; Revocation; Factors; Development Agreement; Definitions.
(1) The board of the Michigan strategic fund defined in section 4 of the Michigan strategic fund act, 1984 PA 270, MCL 125.2004, may...
Section 125.2688h Next Michigan Renaissance Zones; Designation; Certification As Qualified Eligible Next Michigan Business; Modification Of Existing Next Michigan Renaissance Zone; Benefits Of Renaissance Zone Status; Revocation Of Designation; Appeal; Extension Of Status; Duration; Written Agreement; Commencement Of Renaissance Zone Status; Limitation On Number Of Businesses Certified.
(1) The board of the Michigan strategic fund described in section 4 of the Michigan strategic fund act, 1984 PA 270, MCL 125.2004, upon...
Section 125.2689 Exemption, Deduction, Or Credit.
(1) Except as otherwise provided in section 10, an individual who is a resident of a renaissance zone or a business that is located...
Section 125.2690 Individuals Or Businesses Ineligible For Exemption, Deduction, Or Credit; Limitations; Eligibility; Effect Of Failure To File Return; Eligibility Of Certain Property In Next Michigan Renaissance Zone For Exemptions, Deductions, Or Credits.
(1) An individual who is a resident of a renaissance zone or a business that is located and conducts business activity within a renaissance...
Section 125.2691 Application Form.
The form of the application for a renaissance zone designation shall be as specified by the Michigan strategic fund. After the form of the...
Section 125.2692 Reimbursement To Intermediate School Districts, Local School Districts, Community College Districts, Public Libraries, And School Aid Fund; Reimbursement Subject To Appropriation.
(1) Except as otherwise provided in subsection (6), this state shall reimburse intermediate school districts each year for all tax revenue lost as the...
Section 125.2693 Business Conducted At Public Meeting.
(1) The board and the review board shall conduct all business at public meetings held in compliance with the open meetings act, Act No....
Section 125.2694 Construction Of Act.
This act shall be construed liberally to effectuate the legislative intent and the purposes of this act and as complete and independent authority for...
Section 125.2695 Report To Legislature.
The department of Michigan jobs commission shall annually report to the legislature on the economic effects of this act in each renaissance zone. The...
Section 125.2696 Report By State Research University.
A state research university shall annually report to the legislature on the economic effects of this act in each renaissance zone. The report shall...

Last modified: October 10, 2016