Michigan Laws 125.2119 – Duration of exemption or credit
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Michigan Laws 125.2119
- Authority: means the Michigan enterprise zone authority created pursuant to section 4. 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 125.2103zone: means an area approved as an enterprise zone by the authority as provided in this act. See Michigan Laws 125.2103
An exemption or credit granted to a qualified business shall continue until the certification of the qualified business is revoked, as provided in this act, or for 10 years from the date that the business is certified as a qualified business. Even if approval of an enterprise zone is revoked by the authority as provided in this act, an exemption or credit granted to a qualified business located in that enterprise zone shall continue until revoked or until the 10-year or other specified period elapses.