Michigan Compiled Laws Act 549 Of 2008 Michigan Promise Zone Authority Act (390.1661 - 390.1679)

AN ACT to authorize the creation of promise authorities and the implementation of promise zone development plans; to prescribe the powers and duties of promise zone authorities; to provide for the capture and disbursement of certain tax revenue; and to prescribe powers and duties of certain state and local officials.

History: 2008, Act 549, Imd. Eff. Jan. 13, 2009

Section 390.1661 Short Title.
This act shall be known and may be cited as the "Michigan promise zone authority act". History: 2008, Act 549, Imd. Eff. Jan. 13,
Section 390.1663 Definitions.
As used in this act: (a) "Authority" means a promise zone authority created under this act. (b) "Board" means the governing body of an...
Section 390.1665 Promise Zone Authority; Creation; Authority As Body Politic; Powers; Board; Membership; Appointment; Terms; Reimbursement For Expenses; Election Of Chairperson; Oath; Proceedings And Rules Subject To Open Meetings Act; Removal Of Board Member; Writings Subject To The Freedom Of Information Act.
(1) If the department of treasury certifies the eligibility of a governing body to establish a promise zone and the governing body, by resolution,...
Section 390.1667 Promise Zone Development Plan; Provisions; Funding For Out-of-state Postsecondary Institution Prohibited; Submission Of Plan Or Amendments To Department Of Treasury; Approval Or Written Notice Of Deficiencies.
(1) A promise zone authority created under section 5 shall prepare a promise zone development plan. (2) A promise zone development plan shall include,...
Section 390.1669 Cause Of Action Not Created.
The establishment of a promise zone development plan does not create a cause of action in law or in equity against this state, an...
Section 390.1671 Director; Powers And Duties; Acting Director; Treasurer; Secretary; Legal Counsel; Other Personnel; Deposit Of Money; Administrative Costs; Limitation; Submission Of Audited Financial Statements; Certification Of Compliance.
(1) The board may employ a director. All of the following apply to a director employed by a board under this subsection: (a) The...
Section 390.1673 Board; Powers.
The board may do any of the following: (a) Prepare an analysis of the postsecondary educational opportunities for the residents of the promise zone....
Section 390.1675 Budget.
(1) The board shall adopt a budget for the operation of the authority for each fiscal year, before the beginning of that fiscal year,...
Section 390.1677 Capture Of State Education Tax; Determination Of Base Year; Payments.
(1) The authority shall determine the base year for calculating the amount of incremental growth for the capture of the state education tax as...
Section 390.1679 Department Of Treasury; Assumption Of Operational Control; Dissolution; Resolution.
(1) The department of treasury shall oversee the operations of any promise zone authority or board created under this act. If the department of...

Last modified: October 10, 2016