Chapter 1
Chapter 2
Chapter 2A
Chapter 3
Chapter 3A
Chapter 4
Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 8A
Chapter 8B
Chapter 8C
Chapter 8D
Chapter 8E
Chapter 9

Terms Used In Michigan Laws > Chapter 125 > Act 270 of 1984 - Michigan Strategic Fund Act

  • abortion: means that term as defined in section 17015. See Michigan Laws 333.10102
  • Adult: means an individual who is at least 18 years of age. See Michigan Laws 333.10102
  • Advanced computing: means any technology used in the design and development of 1 or more of the following:
  (i) Computer hardware and software. See Michigan Laws 125.2088a
  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • Advisory board: means the board appointed pursuant to section 12421. See Michigan Laws 333.12401
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Affiliate: means an entity that, directly or indirectly, through 1 or more intermediaries, controls, is controlled by, or is under common control with another entity. See Michigan Laws 125.2090l
  • Agent: means an individual who meets 1 or more of the following requirements:
  •   (i) Is authorized to make health care decisions on the principal's behalf by a power of attorney for health care. See Michigan Laws 333.10102
  • Agricultural labor camp: means a tract of land and all tents, vehicles, buildings, or other structures pertaining thereto, part of which is established, occupied, or used as living quarters for 5 or more migratory laborers engaged in agricultural activities, including related food processing. See Michigan Laws 333.12401
  • Alternative energy technology: means applied research or commercialization of new or next generation technology in 1 or more of the following:
  •   (i) Alternative energy technology as that term is defined in section 2 of the Michigan next energy authority act, 2002 PA 593, MCL 207. See Michigan Laws 125.2088a
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Anatomical gift: means a donation of all or part of a human body to take effect after the donor's death for the purpose of transplantation, therapy, research, or education. See Michigan Laws 333.10102
  • annual meeting: when applied to townships, mean the annual meeting required by law to be held on the Saturday immediately preceding the first Monday in April. See Michigan Laws 8.3d
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Applied research: means translational research conducted with the objective of attaining a specific benefit or to solve a practical problem, or other research activity that seeks to utilize, synthesize, or apply existing knowledge, information, or resources to the resolution of a specified problem, question, or issue, with high potential for commercial application to create jobs in this state. See Michigan Laws 125.2088a
  • Appointing power: means each person or group of persons who, acting singly or in conjunction, as a mayor, city manager, council, common council, commission, or otherwise, is or are vested by law with power and authority to select, appoint, or employ any person to hold any office, place, position, or employment subject to civil service. See Michigan Laws 38.517
  • Appointment: means selection, promotion, appointing, or employing any person to hold any office, place, or position of employment subject to civil service. See Michigan Laws 38.517
  • Appraisal: A determination of property value.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Articles: means articles of incorporation, all amendments to articles of incorporation, and agreements of consolidation and merger. See Michigan Laws 487.11201
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Association: means a federal savings association organized under section 5 of the home owners' loan act, 12 USC 1464, or a savings and loan association, building and loan association, or homestead association that is organized under the laws of a state, the District of Columbia, or a territory or protectorate of the United States, and whose deposits are insured by the Federal Deposit Insurance Corporation. See Michigan Laws 487.11201
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Authorized business: means an eligible business that has met the requirements of this chapter and with which the fund has entered into a written agreement for withholding tax capture revenues pursuant to this chapter and section 51f of the income tax act of 1967, 1967 PA 281, MCL 206. See Michigan Laws 125.2090g
  • Bank: means a state banking corporation that is organized or reorganized under this act or organized under any law of this state enacted before March 1, 2000, including a state banking corporation that voluntarily limits its activities. See Michigan Laws 487.11201
  • Bank holding company: means a company as defined in the bank holding company act that is not a bank or national banking association and that is a bank holding company approved by the Board of Governors of the Federal Reserve System under the bank holding company act or that will become an approved bank holding company before or upon the completion of a consolidation provided in section 3706. See Michigan Laws 487.11201
  • Bank or storage facility: means a facility licensed, accredited, or approved under the laws of any state for storage of human bodies or physical parts of human bodies. See Michigan Laws 333.10201
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
  • Basic research: means any original investigation for the advancement of scientific or technological knowledge that will enhance the research capacity of this state in a way that increases the ability to attract to or develop companies, jobs, researchers, or students in this state. See Michigan Laws 125.2088a
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • blighted property: means property that meets any of the following criteria:
  •   (A) Has been declared a public nuisance in accordance with a local housing, building, plumbing, fire, or other related code or ordinance. See Michigan Laws 125.2090a
  • Board: means the board of directors of the Michigan strategic fund, except where the context clearly requires a different definition. See Michigan Laws 125.2004
  • Body part: means an organ, eye, or tissue of a human being. See Michigan Laws 333.10102
  • Branch: means , except as otherwise provided in this subdivision, a branch bank, branch office, branch agency, additional office, or a branch place of business at which deposits are received, checks paid, or money lent. See Michigan Laws 487.11201
  • Camp operator: means a person who owns, establishes, operates, conducts, manages, or maintains an agricultural labor camp or who causes or permits the occupancy or use of an agricultural labor camp whether or not rent is charged for housing and facilities. See Michigan Laws 333.12401
  • Camping: means attendance at a residential, day, troop, or travel camp conducted for more than 4 school-age children, apart from their parents, guardians, or persons in loco parentis for 5 or more days or parts of days in a 14-day period. See Michigan Laws 333.9201
  • capital stock: means the stated par value of issued and outstanding unimpaired common stock and the stated par value of issued and outstanding unimpaired preferred stock. See Michigan Laws 487.11201
  • Casino: means that term as defined in section 2 of the Michigan gaming control and revenue act, 1996 IL 1, MCL 432. See Michigan Laws 333.12601
  • Casino: means a casino regulated by this state under the Michigan gaming control and revenue act, 1996 IL 1, MCL 432. See Michigan Laws 125.2090g
  • Cigar: means any roll of tobacco weighing 3 or more pounds per 1,000, which roll has a wrapper or cover consisting only of tobacco. See Michigan Laws 333.12601
  • City: means a city, village, or other municipality that has a full-time paid fire or police department, or both. See Michigan Laws 38.517
  • Closing date: means the date on which a rural jobs and capital investment fund has received a grant, loan, or other type of economic assistance. See Michigan Laws 125.2090l
  • Commercialization: means the transition from research to the actions necessary to achieve market entry and general market competitiveness of new innovative technologies, processes, and products and the services that support, assist, equip, finance, or promote a person or an entity with that transition. See Michigan Laws 125.2088a
  • commercialization board: means , except as otherwise provided in this subdivision, the strategic economic investment and commercialization board created in section 88k. See Michigan Laws 125.2088a
  • Commission: means the civil service commission created by this act. See Michigan Laws 38.517
  • Commissioner: means the Michigan film commissioner created in section 29b. See Michigan Laws 125.2029
  • Commissioner: means any 1 of the 3 commissioners of the commission. See Michigan Laws 38.517
  • Committee: means the Michigan pharmacy and therapeutics committee established by Executive Order No. See Michigan Laws 333.9701
  • Community revitalization incentive: means a community revitalization grant, a community revitalization loan, or other economic assistance. See Michigan Laws 125.2090a
  • Competitive edge technology: means 1 or more of the following:
  •   (i) Life sciences technology. See Michigan Laws 125.2088a
  • Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
  • Consolidated bank: means a bank that results from a consolidation between a bank and 1 or more banks, out-of-state banks, national banks, associations, or savings banks. See Michigan Laws 487.11201
  • Consolidated organization: means an out-of-state bank, national bank, association, or savings bank organized under the laws of another state or the United States that results from a consolidation of 1 or more banks, with 1 or more out-of-state banks, national banks, associations, or savings banks. See Michigan Laws 487.11201
  • Consolidating organizations: means any combination of banks, out-of-state banks, national banks, associations, or savings banks that have consolidated or are in the process of consolidation as provided in section 3701 or 3702. See Michigan Laws 487.11201
  • consolidation: include , respectively, consolidate or merge, consolidated or merged, consolidating or merging, and consolidation or merger. See Michigan Laws 487.11201
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Controlled substance: means that term as defined in section 7104. See Michigan Laws 333.9701
  • 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.
  • Council: means the Michigan film office advisory council created in section 29c. See Michigan Laws 125.2029
  • county drain commissioner: means the elected county drain commissioner or the person or persons designated to perform the duties of the elected county drain commissioner as provided in section 21 and 21a. See Michigan Laws 280.4
  • County medical care facility: means that term as defined in section 20104. See Michigan Laws 333.12601
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Decedent: means a deceased individual whose body or body part is or may be the source of an anatomical gift. See Michigan Laws 333.10102
  • Decedent: A deceased person.
  • Dependent: A person dependent for support upon another.
  • director: means the director of the department. See Michigan Laws 487.11201
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Disinterested witness: means a witness who is not a spouse, child, parent, sibling, grandchild, grandparent, or guardian of or other adult who exhibited special care and concern for the individual who makes, amends, revokes, or refuses to make an anatomical gift. See Michigan Laws 333.10102
  • Docket: A log containing brief entries of court proceedings.
  • Document of gift: means a donor card or other record used to make an anatomical gift. See Michigan Laws 333.10102
  • Donor: means an individual whose body or body part is the subject of an anatomical gift. See Michigan Laws 333.10102
  • Donor: The person who makes a gift.
  • Donor registry: means a database that contains records of anatomical gifts and amendments to or revocations of anatomical gifts as provided for in section 10120. See Michigan Laws 333.10102
  • Dower: A widow
  • drain: whenever used in this act , shall include the main stream or trunk and all tributaries or branches of any creek or river, any watercourse or ditch, either open or closed, any covered drain, any sanitary or any combined sanitary and storm sewer or storm sewer or conduit composed of tile, brick, concrete, or other material, any structures or mechanical devices, that will properly purify the flow of such drains, any pumping equipment necessary to assist or relieve the flow of such drains and any levee, dike, barrier, or a combination of any or all of same constructed, or proposed to be constructed, for the purpose of drainage or for the purification of the flow of such drains, but shall not include any dam and flowage rights used in connection therewith which is used for the generation of power by a public utility subject to regulation by the public service commission. See Michigan Laws 280.3
  • Driver license: means an operator's or chauffeur's license or permit issued to an individual by the secretary of state under chapter III of the Michigan vehicle code, 1949 PA 300, MCL 257. See Michigan Laws 333.10102
  • Drug: means that term as defined in section 17703. See Michigan Laws 333.9701
  • Earned job factor: means an amount equal to $7,500. See Michigan Laws 125.2090l
  • Economic development fund: means that fund to which the fund succeeded in ownership pursuant to section 22. See Michigan Laws 125.2071
  • economic development fund: means that fund to which the fund succeeded in ownership pursuant to section 22. See Michigan Laws 125.2081
  • Economic development project: means an endeavor related to industrial, commercial, or agricultural enterprise. See Michigan Laws 125.2004
  • Educational facility: means a building owned, leased, or under the control of a public or private school system, college, or university. See Michigan Laws 333.12601
  • Electronic device technology: means any technology that involves microelectronics, semiconductors, electronic equipment, and instrumentation, radio frequency, microwave, and millimeter electronics; optical and optic-electrical devices; or data and digital communications and imaging devices. See Michigan Laws 125.2088a
  • Eligible business: means a business other than a retail establishment, professional sports stadium, casino, or that portion of an eligible business used exclusively for retail sales that proposes to create 1 or more of the following:
  •   (i) A minimum of 3,000 certified new jobs in this state with an average annual wage that is equal to or greater than the prosperity region average wage. See Michigan Laws 125.2090g
  • Eligible investment: means 1 or more of the following, subject to a written agreement under this section, including investment that occurred prior to the approval of the application, to the extent that the project has not been completely reimbursed to or been paid for on behalf of the person requesting a community revitalization incentive under this chapter:
  •   (i) Any demolition, construction, alteration, rehabilitation, or improvement of buildings. See Michigan Laws 125.2090a
  • Eligible property: means property that meets 1 or more of the following conditions:
  •   (i) Is determined to be a facility. See Michigan Laws 125.2090a
  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • environmental health: means the area of activity which deals with the protection of human health through the management, control, and prevention of environmental factors which may adversely affect the health of individuals. See Michigan Laws 333.12101
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Ex officio: Literally, by virtue of one's office.
  • Examination: means any test, process, evaluation, or any other procedure used to determine a candidate's merit, suitability, or fitness for the position for which he or she is applying. See Michigan Laws 38.517
  • Executor: A male person named in a will to carry out the decedent
  • Eye: means a human eye or any portion of a human eye. See Michigan Laws 333.10102
  • Eye bank: means a person that is licensed, accredited, or regulated under federal or state law to engage in the recovery, screening, testing, processing, storage, or distribution of human eyes or portions of human eyes. See Michigan Laws 333.10102
  • facility: means that term as defined in section 2 of the brownfield redevelopment financing act, 1996 PA 381, MCL 125. See Michigan Laws 125.2090a
  • Facility: means a site or sites within this state in which an authorized business creates certified new jobs. See Michigan Laws 125.2090g
  • Fiduciary: A trustee, executor, or administrator.
  • Financial institution: means a state or nationally chartered bank or a state or federally chartered savings and loan association, savings bank, or credit union whose deposits are insured by an agency of the United States government and that maintains a principal office or branch office in this state under the laws of this state or the United States. See Michigan Laws 125.2004
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Food service establishment: means a food service establishment as defined in section 12905. See Michigan Laws 333.12601
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. Source: OCC
  • Full-time equivalent employees: means the number of salaried employment positions plus the quotient obtained by dividing the total number of hours for which employees with an hourly wage rate of at least 150% of the federal minimum wage were compensated for employment over the preceding 12-month period by 2,080 with respect to hourly employees. See Michigan Laws 125.2090l
  • Full-time job: means a full-time job as determined by the fund performed by an individual whose income and social security taxes are withheld by 1 or more of the following:
  •   (i) An authorized business. See Michigan Laws 125.2090g
  • Full-time paid member: means an officer, fire fighter, or police officer who is paid regularly by the city and devotes his or her whole time to fire fighting, law enforcement, or related activities. See Michigan Laws 38.517
  • functionally obsolete: means that the property is unable to be used to adequately perform the function for which it was intended due to a substantial loss in value resulting from factors such as overcapacity, changes in technology, deficiencies or superadequacies in design, or other similar factors that affect the property itself or the property's relationship with other surrounding property as determined by a Michigan advanced assessing officer or a Michigan master assessing officer. See Michigan Laws 125.2090a
  • Fund: means the migratory labor housing fund. See Michigan Laws 333.12401
  • Fund: means the Michigan strategic fund created under section 5, except where the context clearly requires a different definition. See Michigan Laws 125.2004
  • Fund board: means the board of the Michigan strategic fund described in section 5. See Michigan Laws 125.2088a
  • FWC Qualified Settlement Fund: means the FWC Qualified Settlement Fund described in the settlement agreement approved by the court in In re Flint Water Cases, No. See Michigan Laws 125.2004
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • grant: means a grant that is approved under section 90b and that is subject to requirements in section 90c. See Michigan Laws 125.2090a
  • grantee: may be construed as including every person to whom any such interest or estate passes in like manner. See Michigan Laws 8.3e
  • Green chemistry: means chemistry and chemical engineering to design chemical products or processes that reduce or eliminate the use or generation of hazardous substances, while producing high-quality products through safe and efficient manufacturing processes. See Michigan Laws 125.2004
  • Growth investment: means any capital or equity investment in a qualified business or any loan to a qualified business with a stated maturity at least 1 year after the date of issuance. See Michigan Laws 125.2090l
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Guardian: means a person appointed by a court to make decisions regarding the support, care, education, health, or welfare of an individual. See Michigan Laws 333.10102
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Health facility: means a health facility or agency licensed under article 17, except a home for the aged, nursing home, county medical care facility, hospice, or hospital long-term care unit. See Michigan Laws 333.12601
  • historic resource: means a publicly or privately owned historic building, structure, site, object, feature, or open space either manmade or natural, individually listed or located within and contributing to a historic district designated by the national register of historic places, the state register of historic sites, or a local unit acting under the local historic districts act, 1970 PA 169, MCL 399. See Michigan Laws 125.2090a
  • Home for the aged: means that term as defined in section 20106. See Michigan Laws 333.12601
  • Homeland security and defense technology: means technology that assists in the assessment of threats or damage to the general population and critical infrastructure, protection of, defense against, or mitigation of the effects of foreign or domestic threats, disasters, or attacks, or support for crisis or response management, including, but not limited to, 1 or more of the following:
  •   (i) Sensors, systems, processes, or equipment for communications, identification and authentication, screening, surveillance, tracking, and data analysis. See Michigan Laws 125.2088a
  • Hospice: means that term as defined in section 20106. See Michigan Laws 333.12601
  • Hospital: means a facility licensed as a hospital under the law of any state or a facility operated as a hospital by the United States, a state, or a subdivision of a state. See Michigan Laws 333.10102
  • Hospital long-term care unit: means that term as defined in section 20106. See Michigan Laws 333.12601
  • Identification card: means an official state personal identification card issued by the secretary of state under 1972 PA 222, MCL 28. See Michigan Laws 333.10102
  • Immunizing agent: means a vaccine, antibody preparation, or other substance used to increase an individual's immunity to a disease or infectious agent. See Michigan Laws 333.9201
  • in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q
  • Independent peer review expert: means a person or persons selected by the commercialization board with appropriate expertise to conduct an independent, unbiased, objective, and competitive evaluation of activities funded under section 88k. See Michigan Laws 125.2088a
  • Initiative: means the pharmaceutical best practices initiative established by this part. See Michigan Laws 333.9701
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Institution of higher education: means an institution of higher education or a community or junior college described in section 4, 5, 6, or 7 of article VIII of the state constitution of 1963 or an independent nonprofit degree-granting institution of postsecondary education in this state that is approved by the state board of education. See Michigan Laws 125.2088a
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Investment authority: means the amount stated on the certificate under section 90m certifying the rural jobs and capital investment fund. See Michigan Laws 125.2090l
  • investment fund: means the jobs for Michigan investment fund created in section 88h. See Michigan Laws 125.2088a
  • Judge: means a judge of the district court, the circuit court, or the recorder's court of the city of Detroit, who has converted a portion of his or her state salary standardization payment as an addition to his or her state base salary under section 14a or 14c of Act No. See Michigan Laws 38.841
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Know: means to have actual knowledge. See Michigan Laws 333.10102
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Life sciences: means science for the examination or understanding of life or life processes, including, but not limited to, all of the following:
  •   (i) Bioengineering. See Michigan Laws 125.2088a
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • loan: means a loan that is approved under section 90b and that is subject to the requirements in section 90d. See Michigan Laws 125.2090a
  • Local unit of government: means a county, city, township, or other political subdivision of this state which offers its employees a retirement plan in which a judge may be a member. See Michigan Laws 38.841
  • Majority leader: see Floor Leaders
  • Manufacturer: means a person that prepares, produces, derives, propagates, compounds, processes, packages, or repackages a drug or device salable on prescription only, or otherwise changes the container or the labeling of a drug or device salable on prescription only, and that supplies, distributes, sells, offers for sale, barters, or otherwise disposes of that drug or device and any other drug or device salable on prescription only, to another person for resale, compounding, or dispensing. See Michigan Laws 333.17706
  • MEDC: means the Michigan economic development corporation, the public body corporate created under section 28 of article VII of the state constitution of 1963 and the urban cooperation act of 1967, 1967 (Ex Sess) PA 7, MCL 124. See Michigan Laws 125.2004
  • Medicaid: means the program of medical assistance established under title XIX of the social security act, 42 USC 1396 to 1396w-5. See Michigan Laws 333.9701
  • Meeting: means a meeting as defined in section 2 of the open meetings act, 1976 PA 267, MCL 15. See Michigan Laws 333.12601
  • MESBIC: means a small business investment company licensed under section 301(d) of the small business investment act of 1958, 15 U. See Michigan Laws 125.2061
  • Minor: means an individual who is under 18 years of age. See Michigan Laws 333.10102
  • Minority: means a person who is black, hispanic, oriental, eskimo, or an American Indian. See Michigan Laws 125.2061
  • Minority leader: See Floor Leaders
  • Minority owned business: means a business which is at least 50% owned, controlled, and managed by minorities. See Michigan Laws 125.2061
  • Minority venture capital company: means a business which makes investments solely in minority owned businesses. See Michigan Laws 125.2061
  • month: means a calendar month; the word "year" a calendar year; and the word "year" alone shall be equivalent to the words "year of our Lord". See Michigan Laws 8.3j
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Motor vehicle: means that term as defined in section 33 of the Michigan vehicle code, 1949 PA 300, MCL 257. See Michigan Laws 333.12601
  • Municipality: means a county, city, village, township, port district, development organization, institution of higher education, community or junior college, or subdivision or instrumentality of any of the legal entities listed in this subdivision. See Michigan Laws 125.2004
  • Municipality: means that term as defined in section 4. See Michigan Laws 125.2090g
  • Municipality: means a township, charter township, city, or incorporated village. See Michigan Laws 38.517
  • Municipality: includes a county, township, charter township, city, or incorporated village. See Michigan Laws 38.557
  • National bank: means a national banking association chartered by the federal government under the national bank act. See Michigan Laws 487.11202
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Neighborhood and commercial corridor food initiative: means property that will be used primarily as a retail supermarket, grocery store, produce market, or delicatessen that is located in a downtown area or in a development area as defined in section 2 of the corridor improvement authority act, 2005 PA 280, MCL 125. See Michigan Laws 125.2090a
  • New full-time equivalent employees: means the number of jobs performed by an individual who is employed for consideration for at least 35 hours of work each week based in this state and for whom the company, an employee leasing company, or a professional employer organization on behalf of the company, or other entity authorized under this act, withholds income and United States Social Security taxes. See Michigan Laws 125.2090l
  • Next of kin: means the spouse of a deceased individual or a person related to a deceased individual within the third degree of consanguinity as determined by the civil law method. See Michigan Laws 333.10201
  • Nursing home: means that term as defined in section 20109. See Michigan Laws 333.12601
  • Oath: A promise to tell the truth.
  • oath: shall be construed to include the word "affirmation" in all cases where by law an affirmation may be substituted for an oath; and in like cases the word "sworn" shall be construed to include the word "affirmed". See Michigan Laws 8.3k
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Office: means the Michigan film office created in section 29a. See Michigan Laws 125.2029
  • Organ: means a human kidney, liver, heart, lung, pancreas, or intestine or multivisceral organs when transplanted at the same time as an intestine. See Michigan Laws 333.10102
  • Organ procurement organization: means a person certified or recertified by the secretary of the United States department of health and human services as a qualified organ procurement organization under 42 USC 273(b). See Michigan Laws 333.10102
  • Other economic assistance: means any other form of assistance allowed under this act that is not a community revitalization loan or community revitalization grant. See Michigan Laws 125.2090a
  • Out-of-state bank: means a banking corporation that is organized under the laws of another state, the District of Columbia, or a territory or a protectorate of the United States whose principal office is located in a state other than this state, in the District of Columbia, or in a territory or a protectorate of the United States, and whose deposits are insured by the Federal Deposit Insurance Corporation. See Michigan Laws 487.11202
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Parent: means a parent whose parental rights have not been terminated. See Michigan Laws 333.10102
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality or any other legal or commercial entity. See Michigan Laws 333.10102
  • Person: means a person as defined in section 1106 or a governmental entity. See Michigan Laws 333.12401
  • Person: means an individual, partnership, corporation, limited liability company, governmental entity, or any other legal entity. See Michigan Laws 487.11202
  • Person: means an individual, sole proprietorship, partnership, limited partnership, limited liability partnership, limited liability company, joint venture, profit or nonprofit corporation including a public or private college or university, public utility, municipality, local industrial development corporation, economic development corporation, other association of persons organized for agricultural, commercial, or industrial purposes, a lender, or any other entity approved by the board. See Michigan Laws 125.2004
  • person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
  • Personal property: All property that is not real property.
  • Pharmacist: means that term as defined in section 17707. See Michigan Laws 333.9701
  • Physician: means that term as defined in section 17001 and 17501. See Michigan Laws 333.9701
  • Physician: means an individual authorized to practice medicine or osteopathic medicine and surgery under the law of any state. See Michigan Laws 333.10102
  • Place of employment: means an enclosed indoor area that contains 1 or more work areas for 1 or more persons employed by a public or private employer. See Michigan Laws 333.12601
  • Port facilities: means seawall jetties; piers; wharves; docks; boat landings; marinas; warehouses; storehouses; elevators; grain bins; cold storage plants; bunkers; oil tanks; ferries; canals; locks; bridges; tunnels; seaways; conveyors; modern appliances for the economical handling, storage, and transportation of freight and handling of passenger traffic; transfer and terminal facilities required for the efficient operation and development of ports and harbors; other harbor improvements; or improvements, enlargements, remodeling, or extensions of any of these buildings or structures. See Michigan Laws 125.2004
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Prescriber: means that term as defined in section 17708. See Michigan Laws 333.9701
  • Prescription: means that term as defined in section 17708. See Michigan Laws 333.9701
  • Prescription drug: means that term as defined in section 17708. See Michigan Laws 333.9701
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • Primary supplier: means an entity that creates not fewer than 25 new jobs in this state and that provides both of the following to an authorized business pursuant to a written agreement under this chapter:
  •   (i) A minimum of $5,000,000. See Michigan Laws 125.2090g
  • Principal business operations: means the operations of a business are located at the place or places where at least 60% of its employees work or where employees that are paid at least 60% of its payroll work. See Michigan Laws 125.2090l
  • Private contributions: means an investment of cash in a rural jobs and capital investment fund to match dollar-for-dollar the grants, loans, or other types of economic assistance up to the investment authority of the rural jobs and capital investment fund. See Michigan Laws 125.2090l
  • Private sector: means other than the fund, a state or federal source, or an agency of a state or the federal government. See Michigan Laws 125.2004
  • Probate: Proving a will
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Procurement organization: means an eye bank, organ procurement organization, or tissue bank. See Michigan Laws 333.10102
  • Project: means an economic development project and, in addition, means the acquisition, construction, reconstruction, conversion, or leasing of an industrial, commercial, retail, agricultural, or forestry enterprise, or any part of these, to carry out the purposes and objectives of this act and of the fund, including, but not limited to, acquisition of land or interest in land, buildings, structures, or other planned or existing planned improvements to land including leasehold improvements, machinery, equipment, or furnishings which include, but are not limited to, the following: research parks; office facilities; engineering facilities; research and development laboratories; warehousing facilities; parts distribution facilities; depots or storage facilities; port facilities; railroad facilities, including trackage, right of way, and appurtenances; airports; bridges and bridge facilities; water and air pollution control equipment or waste disposal facilities; theme or recreational parks; equipment or facilities designed to produce energy from renewable resources; farms, ranches, forests, and other agricultural or forestry commodity producers; agricultural harvesting, storage, transportation, or processing facilities or equipment; grain elevators; shipping heads and livestock pens; livestock; warehouses; wharves and dock facilities; dredging of recreational or commercial harbors; water, electricity, hydro electric, coal, petroleum, or natural gas provision facilities; dams and irrigation facilities; sewage, liquid, and solid waste collection, disposal treatment, and drainage services and facilities. See Michigan Laws 125.2004
  • Promotion fund: means the Michigan film promotion fund created under section 29d. See Michigan Laws 125.2029
  • Prospective donor: means an individual who is dead or near death and has been determined by a procurement organization to have a body part that could be medically suitable for transplantation, therapy, research, or education. See Michigan Laws 333.10102
  • Prosperity region: means each of the 10 prosperity regions identified by the department of technology, management, and budget on the effective date of the amendatory act that added this section. See Michigan Laws 125.2090g
  • Prosperity region average wage: means the average annual wage for the prosperity region where the facility is located based on the most recent data made available by the Michigan bureau of labor market information and strategic initiatives. See Michigan Laws 125.2090g
  • Public body: means a public body as defined in section 2 of the open meetings act, 1976 PA 267, MCL 15. See Michigan Laws 333.12601
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Public place: except as otherwise provided in subsection (2), means any of the following:
  •   (i) An enclosed, indoor area owned or operated by a state or local governmental agency and used by the general public or serving as a meeting place for a public body, including an office, educational facility, home for the aged, nursing home, county medical care facility, hospice, hospital long-term care unit, auditorium, arena, meeting room, or public conveyance. See Michigan Laws 333.12601
  • public work: means the acquisition, construction, or improvement of public works; the acquisition of easements necessary for the public works; the acquisition of real and personal property and interests in real and personal property which are necessary for the public works; and the demolition of structures, site preparation, relocation costs, building rehabilitation and administrative costs, including, but not limited to, the cost of technical and economic feasibility studies or architectural, engineering, legal, and accounting fees, which are necessary for the public works. See Michigan Laws 125.2041
  • Qualified business: means a business entity located in this state. See Michigan Laws 125.2088a
  • Qualified business: means an operating business that, at the time of the initial investment in the business by a rural jobs and capital investment fund, has fewer than 150 employees and is engaged in industries assigned a North American Industry Classification System code within sectors 11, 21, 23, 31 through 33, 42, 48, 49, 54, except 541110 through 541219, 56, 62, and 81 or, if not engaged in any of these industries, the fund determines that the investment will be beneficial to the rural area, the economic growth of this state, and the industry is not assigned a North American Industry Classification System code within sector 51. See Michigan Laws 125.2090l
  • Qualified mezzanine fund: means a person or entity primarily engaged in making loans or investments ranging in size from $250,000. See Michigan Laws 125.2088a
  • Qualified private equity fund: means a firm principally or primarily engaged in investing in or acquiring businesses that is managed by 2 or more individuals with no less than 5 years of direct experience in private equity investments, and that holds investment capital from investors other than the fund. See Michigan Laws 125.2088a
  • Qualified rural local governmental unit: means a county in this state with a population of 225,000 or less. See Michigan Laws 125.2090l
  • Qualified venture capital fund: means a firm principally or primarily engaged in investing in or acquiring early stage businesses with growth potential that have not yet demonstrated consistent profitability or a proven business model, that is managed by 2 or more individuals with not less than 5 years of direct experience in venture capital, and that holds capital from investors other than the fund. See Michigan Laws 125.2088a
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Reasonably available: means able to be contacted by a procurement organization without undue effort and willing and able to act in a timely manner consistent with existing medical criteria necessary for the making of an anatomical gift. See Michigan Laws 333.10102
  • Recipient: means an individual into whose body a decedent's body part has been or is intended to be transplanted. See Michigan Laws 333.10102
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Michigan Laws 333.10102
  • Refusal: means a record created under section 10107 that expressly refuses to make an anatomical gift of an individual's body or body part. See Michigan Laws 333.10102
  • Registry: means the childhood immunization registry or Michigan care improvement registry established under section 9207. See Michigan Laws 333.9201
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Remodeling: means the remodeling, improving, or reconstruction of existing housing or facilities which are incidental or appurtenant thereto for migratory laborers or the construction of new housing or facilities which are incidental or appurtenant thereto for migratory laborers. See Michigan Laws 333.12401
  • Repayment amount: means an amount equal to 50% of a rural jobs and capital investment fund's investment authority, minus the sum of the product of new full-time equivalent employees reported to the fund for each of the rural jobs and capital investment fund's annual reports submitted pursuant to section 90p and the appropriate earned job factor rate. See Michigan Laws 125.2090l
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Research and development enterprise: means any person found by the fund to be engaged in a business which uses green chemistry as a design guidance, or the discovery of new substances and the refinement of known substances, processes, products, theories, and ideas, except for those persons whose businesses are directed primarily to the accumulation or analysis of commercial, financial, or mercantile data. See Michigan Laws 125.2071
  • Research center fund: means that fund created by section 27 of former 1982 PA 70, to which the fund succeeds in ownership pursuant to section 76. See Michigan Laws 125.2071
  • Rural jobs and capital investment fund: means an entity approved by the fund under section 90m that meets all of the following:
  •   (i) The entity or 1 or more of its affiliates are regulated by the Securities and Exchange Commission and meet either of the following:
      (A) Is a rural business investment company under 7 USC 2009cc or a small business investment company under 15 USC 681. See Michigan Laws 125.2090l
  • Savings bank: means a savings bank that is organized under the savings bank act, 1996 PA 354, MCL 487. See Michigan Laws 487.11203
  • seal: shall be construed to include any of the following:
  •   (a) The impression of the seal on the paper alone. See Michigan Laws 8.3n
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • shall not apply: means that the pertinent provision is not operative as to certain persons or things or in conjunction with a particular date or dates. See Michigan Laws 8.4c
  • Shareholder: means the registered owner of any share or shares of capital stock of an institution. See Michigan Laws 487.11203
  • Sign: means that, with the present intent to authenticate or adopt a record, an individual does either of the following:
  •   (i) Executes or adopts a tangible symbol. See Michigan Laws 333.10102
  • Small business: means a business entity formed or doing business in this state, including the affiliates of the business concern, which business entity is independently owned and operated and employs fewer than 250 full-time employees or has gross annual sales of less than $6,000,000. See Michigan Laws 125.2088a
  • smoke: means the burning of a lighted cigar, cigarette, pipe, or any other matter or substance that contains a tobacco product. See Michigan Laws 333.12601
  • Smoking paraphernalia: means any equipment, apparatus, or furnishing that is used in or necessary for the activity of smoking. See Michigan Laws 333.12601
  • Special Purpose FWC Settlement Entity: means the Special Purpose FWC Settlement Entity described in the settlement agreement approved by the court in In re Flint Water Cases, No. See Michigan Laws 125.2004
  • State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Michigan Laws 333.10102
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • Surplus: means the amount paid for issued and outstanding common and preferred stock of a bank in excess of the stated par value, plus any amount of transferred undivided profits and any additional amounts paid in or contributed to increase total capital. See Michigan Laws 487.11203
  • Technician: means an individual determined to be qualified to remove or process body parts by an appropriate organization that is licensed, accredited, or regulated under federal or state law. See Michigan Laws 333.10102
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Tissue: means a portion of the human body other than an organ or an eye. See Michigan Laws 333.10102
  • Tissue bank: means a person that is licensed, accredited, or regulated under federal or state law to engage in the recovery, screening, testing, processing, storage, or distribution of tissue. See Michigan Laws 333.10102
  • Tobacco product: means a product that contains tobacco and is intended for human consumption, including, but not limited to, cigarettes, noncigarette smoking tobacco, or smokeless tobacco, as those terms are defined in section 2 of the tobacco products tax act, 1993 PA 327, MCL 205. See Michigan Laws 333.12601
  • Tobacco specialty retail store: means an establishment in which the primary purpose is the retail sale of tobacco products and smoking paraphernalia, and in which the sale of other products is incidental. See Michigan Laws 333.12601
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Transitional public employment program: means a public service employment program in the area of environmental quality, health care, education, public safety, crime prevention and control, prison rehabilitation, transportation, recreation, maintenance of parks, streets and other public facilities, solid waste removal, pollution control, housing and neighborhood improvements, rural development, conservation, beautification, veterans' outreach, or any other area of human betterment and community improvement as part of a program of comprehensive manpower services authorized, undertaken, and financed pursuant to the comprehensive employment and training act of 1973, 29 U. See Michigan Laws 38.557
  • Trustee: A person or institution holding and administering property in trust.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • United States: shall be construed to include the district and territories. See Michigan Laws 8.3o
  • University technology transfer: means innovative methods to accelerate the creation of start-up companies affiliated with institutions of higher education or the transfer of competitive edge technology research from an institution of higher education to a qualified business in Michigan. See Michigan Laws 125.2088a
  • Withholding tax capture revenues: means the amount of income tax withheld under part 3 of the income tax act of 1967, 1967 PA 281, MCL 206. See Michigan Laws 125.2090g
  • Writ of certiorari: An order issued by the Supreme Court directing the lower court to transmit records for a case for which it will hear on appeal.
  • Written agreement: means a written agreement made between the eligible business and the fund pursuant to this chapter. See Michigan Laws 125.2090g