Michigan Compiled Laws 270-1984-8a Chapter 8a (125.2088...125.2088r)

• Section 125.2088 Legislative Findings; Intent; Scope Of Activities.
  (1) The legislature finds and declares that the activities authorized under this chapter to encourage diversification of the economy and the creation of jobs...
• Section 125.2088a Definitions.
  As used in this chapter: (a) "Advanced automotive, manufacturing, materials, information, and agricultural processing technology" means any technology that involves 1 or more of...
• Section 125.2088b Programs Created And Operated By Fund Board; Expenditures Or Investments; Use Of Appropriated Or Transferred Money; Fees; Restriction; Selection Of Vendors; Expenditure Of Funds Without Further Appropriation.
  (1) The fund shall create and operate programs authorized under this act. The fund board shall determine the annual allocation of money for programs...
• Section 125.2088c Duties Of Fund Board; Definitions.
  (1) The fund board shall exercise the duties of a fiduciary with respect to 21st century investments consistent with the purposes of this chapter....
• Section 125.2088d Loan Enhancement Program; Loan Guarantee Program; Small Business Capital Access Program; Michigan Film And Digital Media Investment Loan Program; Choose Michigan Film And Digital Media Loan Fund; Choose Michigan Fund Program; Michigan Micro Loan Program; Definitions.
  (1) The fund shall create and operate a loan enhancement program. (2) As a separate and distinct part of the loan enhancement program, the...
• Section 125.2088e Private Equity Investment Program.
  When creating programs for 21st century investments under this chapter, the fund shall create and operate a private equity investment program. The fund board...
• Section 125.2088f Venture Capital Investment Program.
  (1) When creating programs for 21st century investments under this chapter, the fund shall create and operate the venture capital investment program. The fund...
• Section 125.2088g Mezzanine Investment Program.
  When creating programs for 21st century investments under this chapter, the fund shall create and operate a mezzanine investment program. The fund board shall...
• Section 125.2088h Investment Fund; Creation; Duties Of Fund Board.
  (1) The jobs for Michigan investment fund is created within the fund as a permanent fund authorized by section 19 of article IX of...
• Section 125.2088i Office Of Chief Compliance Officer.
  (1) The office of the chief compliance officer is created within the fund. The office shall exercise its powers and duties under this section...
• Section 125.2088j Disbursements.
  (1) Upon request from the fund board, the state treasurer shall transfer appropriated funds from the 21st century jobs trust fund to the fund...
• Section 125.2088k Strategic Economic Investment And Commercialization Board; Creation; Powers, Duties, And Authority; Award Of Grants And Loans; Duties Of Fund; Standards For Expenditures Of Money; Reasons For Selection Of Grant Recipient.
  (1) The strategic economic investment and commercialization board is created within the fund. Through October 17, 2010, the commercialization board shall exercise its powers,...
• Section 125.2088l Commercialization Board; Membership; Appointment; Terms; Vacancy; Chairperson, Vice-chairperson, And Secretary; Oath Of Office; Compensation; Reimbursement For Expenses; Organization; Quorum; Business Conducted At Public Meetings.
  (1) The commercialization board shall consist of 19 members, as provided under subsections (2) and (3). (2) The commercialization board shall include each of...
• Section 125.2088m Member, Employee, Or Agent Of Commercialization Board; Conduct.
  (1) Notwithstanding section 3(1) of 1968 PA 317, MCL 15.323, members of the commercialization board are considered public servants subject to 1968 PA 317,...
• Section 125.2088n Access To Books And Records By Auditor General; Separate Audit; Requirement That Recipient Provide Information Necessary For Production Of Reports.
  (1) All contracts approved by the fund for 21st century investments and all contracts approved by the commercialization board or fund board for grants...
• Section 125.2088o Technology Transfer Acceleration Program.
  The fund shall create and operate a program to accelerate technology transfer from Michigan's institutions of higher education to the private sector for commercialization...
• Section 125.2088p Michigan Life Sciences Pipeline; Establishment; Purpose; Commencement Of Operations; Awards; Selection Of Pipeline Operator; Request For Proposals; Contract; Duration; Report; "Pipeline" Defined.
  (1) The fund shall establish a Michigan life sciences pipeline to promote the development of businesses in this state engaged in providing goods and...
• Section 125.2088q Center Of Innovation Program; Definitions.
  (1) The fund may create and operate a center of innovation program to promote the development, acceleration, and sustainability of competitive edge technology sectors...
• Section 125.2088r Michigan Business Development Program; Posting Certain Information On Website; Finding And Declaration Of Public Purpose; Definitions.
  (1) The fund shall create and operate the Michigan business development program to provide grants, loans, and other economic assistance to qualified businesses that...

Last modified: October 10, 2016