Michigan Compiled Laws Act 385 Of 1984 Technology Park Development Act (207.701 - 207.718)

AN ACT to provide for the establishment of technology park districts in local governmental units; to provide certain facilities located in technology park districts an exemption from certain taxes; to levy and collect a specific tax upon the owners of certain facilities; to provide for the disposition of the tax; to provide for the obtaining and transferring of an exemption certificate and to prescribe the contents of those certificates; to prescribe the powers and duties of certain state agencies and officers and certain officers of local governmental units; and to provide remedies and penalties.

History: 1984, Act 385, Imd. Eff. Dec. 28, 1984 ;-- Am. 1990, Act 151, Imd. Eff. June 27, 1990

Section 207.701 Short Title.
This act shall be known and may be cited as the “technology park development act”. History: 1984, Act 385, Imd. Eff. Dec. 28, 1984
Section 207.702 Meanings Of Words And Phrases.
For the purposes of this act, the words and phrases defined in sections 3 and 4 have the meanings ascribed to them in those...
Section 207.703 Definitions; D To P.
(1) “Department” means the department of treasury. (2) “Facility” means property to be located in a technology park district. (3) “Local governmental unit” means...
Section 207.704 Definitions; S, T.
(1) “State equalized valuation” means the valuation determined under Act No. 44 of the Public Acts of 1911, being sections 209.1 to 209.8 of...
Section 207.705 Technology Park District; Establishment; Composition; Requirements; Resolution; Filing Written Request; Alteration Of Boundaries; Public Hearing; Notice; District Established By Township; Land Included As Part Of District.
(1) A local governmental unit, by resolution of its legislative body, may establish 1 technology park district or, if subdivision (a) is not applicable,...
Section 207.706 Application For Technology Park Facilities Exemption Certificate; Filing; Contents; Notification Of Assessor And Legislative Body; Public Hearing; Notice.
(1) Following the establishment of a district, the owner of record of a facility or, if an existing lease provides for the direct payment...
Section 207.707 Approval Or Disapproval Of Application; Resolution.
Not more than 60 days after receipt of the application for a certificate by the clerk, the legislative body of the local governmental unit...
Section 207.707a District Or Exemption Certificate; Approval Or Disapproval; Effective Date Of Exemption Certificate; Appeal.
(1) After June 30, 1990, the establishment of a district under section 5 and the approval or disapproval of an exemption certificate under section...
Section 207.708 Certificate; Issuance; Form; Contents; Effective Date; Filing; Record.
(1) After approval of the application for a certificate by the legislative body of the local governmental unit and the department, the clerk of...
Section 207.709 Exemption From Ad Valorem Real And Personal Property Taxes; Duration Of Certificate; Review; Extension; Commencement And Termination Of Certificate; Date Of Issuance Of Certificate Of Occupancy; Basis Of Review.
(1) For the period during which the certificate is in effect, a facility for which a certificate is in effect, but not the land...
Section 207.710 State Equalized Valuation; Finding; Statement; Requirements For Approval Of Application.
(1) If the state equalized valuation of the property proposed to be exempt pursuant to an application under consideration, considered together with the aggregate...
Section 207.711 Annual Valuation Of Facility; Duties Of Assessor.
The assessor of a local governmental unit in which is located a facility for which 1 or more certificates are in force shall annually...
Section 207.712 Technology Park Facilities Tax; Levy; Amount; Collection, Disbursement, And Assessment Of Tax; Payment; Copy Of Amount Of Disbursement; Facility Located In Renaissance Zone; Facility Of Qualified Start-up Business.
(1) Except as provided in subsections (8) and (9), there is levied upon every owner of record and every user or occupant, if known,...
Section 207.712a Facility Subject To Technology Park Facilities Exemption Certificate; Exemption For Eligible Manufacturing Personal Property; "Eligible Manufacturing Personal Property" Defined.
(1) If a facility was subject to a technology park facilities exemption certificate on December 31, 2012, notwithstanding any other provision of this act...
Section 207.713 Technology Park Facilities Tax; Failure To Pay; Remedies; Tax As Lien; Enforcement; Disbursement Of Tax And Interest.
(1) If a technology park facilities tax applicable to personal property is not paid within the time permitted by law for payment of taxes...
Section 207.714 Revocation Of Certificate; Grounds; Effect Of Noncompliance.
(1) The legislative body of the local governmental unit, by resolution, may revoke a certificate if it finds any of the following: (a) Completion...
Section 207.715 Transfer Of Certificate; Filing Application For Approval.
(1) A holder of a certificate may transfer the certificate as provided in this section. (2) If the holder of a certificate is an...
Section 207.716 Status Of Certificate; Report.
Each local governmental unit granting a certificate shall report to the department not later than October 15 of each year regarding the status of...
Section 207.717 Analyses Of Costs And Benefits.
After this act has been in effect for 4 years, the departments of commerce and of treasury shall jointly prepare and submit to the...
Section 207.718 Exemptions; Submission Of Analyses Of Costs And Benefits.
(1) A new exemption shall not be granted under this act after December 31, 1993, but an exemption then in effect shall continue until...

Last modified: October 10, 2016