Michigan Laws 125.2115 – Condition to certification as qualified business
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Before being entitled to certification as a qualified business, a business shall certify to the local governmental unit in writing at least all of the following:
(a) An estimate of the minimum number of new jobs that will be created by the business as a qualified business and the duration of those jobs.
Terms Used In Michigan Laws 125.2115
- Facility: means real or personal industrial or commercial property located in an enterprise zone, excluding property used to provide rental housing. See Michigan Laws 125.2103
- 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
- Local governmental unit: means a city, village, or township. See Michigan Laws 125.2103
- Qualified business: means either of the following, as applicable:
(i) A qualified new business or a qualified existing business located in an enterprise zone created before 1994. See Michigan Laws 125.2103Qualified new business: means a business located within an enterprise zone that is not located in the area comprising the enterprise zone on the date on which the authority approves the enterprise zone, and that is certified by the authority as meeting the requirements of this act. See Michigan Laws 125.2103 zone: means an area approved as an enterprise zone by the authority as provided in this act. See Michigan Laws 125.2103
(b) An estimate of the amount of investment that will be made in the enterprise zone on land, equipment, and building acquisition or construction.
(c) Each exemption, credit, or deduction to which the business will be entitled as a qualified business and the duration of each exemption, credit, or deduction.
(d) That the business is aware that violation of the terms of this act or the certification under this section may result in revocation of its certification as a qualified business.
(e) That, except as provided in section 16, location of the new facility or qualified new business in the enterprise zone will not have the effect of transferring employment from another local governmental unit or from an area in the local governmental unit to the enterprise zone located within that local governmental unit.