Michigan Laws 207.808a – Fee or donation
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Michigan Laws 207.808a
- Authority: means the Michigan economic growth authority created under section 4. See Michigan Laws 207.803
- Authorized business: means 1 of the following:
(i) A single eligible business with a unique federal employer identification number that has met the requirements of section 8 and with which the authority has entered into a written agreement for a tax credit under section 9. See Michigan Laws 207.803Business: means proprietorship, joint venture, partnership, limited liability partnership, trust, business trust, syndicate, association, joint stock company, corporation, cooperative, limited liability company, or any other organization. See Michigan Laws 207.803 Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Beginning on the effective date of the amendatory act that added this section, the authority shall not require an eligible business, as a condition of becoming an authorized business, to pay an unreasonable fee to or make a donation to the Michigan economic development corporation or a foundation or fund associated with the Michigan economic development corporation.