Michigan Compiled Laws Act 24 Of 1995 Michigan Economic Growth Authority Act (207.801 - 207.810)

AN ACT to promote economic growth and job creation within this state; to create and regulate the Michigan economic growth authority; to prescribe the powers and duties of the authority and of state and local officials; to assess and collect a fee; to approve certain plans and the use of certain funds; and to provide qualifications for and determine eligibility for tax credits and other incentives for authorized businesses and for qualified taxpayers.

History: 1995, Act 24, Imd. Eff. Apr. 18, 1995 ;-- Am. 2000, Act 144, Imd. Eff. June 6, 2000
Popular Name: MEGA

Section 207.801 Short Title.
This act shall be known and may be cited as the “Michigan economic growth authority act”. History: 1995, Act 24, Imd. Eff. Apr. 18,...
Section 207.802 Legislative Findings.
The legislature finds that it is in the public interest to promote economic growth and to encourage private investment, job creation, and job upgrading...
Section 207.803 Definitions.
As used in this act: (a) "Affiliated business" means a business that is at least 50% owned and controlled, directly or indirectly, by an...
Section 207.804 Michigan Economic Growth Authority; Creation Within Michigan Strategic Fund; Duties; Membership, Appointment, And Terms Of Members; Vacancy; Compensation; Expenses.
(1) The Michigan economic growth authority is created within the Michigan strategic fund. The Michigan strategic fund shall provide staff for the authority and...
Section 207.805 Michigan Economic Growth Authority; Powers; Quorum; Meetings; Business Conducted At Public Meeting; Confidential Information; Written Statement; Disclosure; “financial Or Proprietary Information” Defined.
(1) The powers of the authority are vested in the authority members in office. Regardless of the existence of a vacancy, a majority of...
Section 207.806 Michigan Economic Growth Authority; Powers.
The authority shall have powers necessary or convenient to carry out and effectuate the purpose of this act, including, but not limited to, the...
Section 207.807 Application For Tax Credit; Written Agreement; Form.
(1) An eligible business may apply to the authority to enter into a written agreement which authorizes a tax credit under section 9. (2)...
Section 207.808 Agreement For Tax Credit; Determination; Requirements; Amount And Duration Of Tax Credits; Factors; Written Agreement; Criteria; Limitation On New Agreements; Execution; Repayment Provision; Conditions; Agreement With Eligible Business Not Meeting Criteria.
(1) After receipt of an application, the authority may enter into an agreement with an eligible business for a tax credit under section 9...
Section 207.808a Fee Or Donation.
Beginning on the effective date of the amendatory act that added this section, the authority shall not require an eligible business, as a condition...
Section 207.809 Eligibility For Credits; Issuance Of Certificate.
(1) An authorized business is eligible for the credits provided in sections 37c, 37d, and 38g(19) to (24) of the single business tax act,...
Section 207.810 Report To Legislature.
(1) The authority shall report to both houses of the legislature yearly on October 1 on the activities of the authority. Beginning October 1,...

Last modified: October 10, 2016