§ 125.2090g Definitions
§ 125.2090h Good jobs for Michigan program; creation and operation by fund; transfer of dedicated portion of withholding tax capture revenues to businesses; application; requirements; determination of amount and
§ 125.2090i Withholdings certificate; issuance; contents; request for payment; failure of authorized business to satisfy and maintain jobs and other conditions; forfeiture of payment; assignment or transfer of wr
§ 125.2090j Good jobs for Michigan fund; creation; deposit of money or other assets; investment; interest and earnings; money remaining in fund; use

Terms Used In Michigan Laws > Chapter 125 > Act 270 of 1984 > Chapter 8D

  • 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
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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
  • 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
  • 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
  • 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.
  • 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
  • Facility: means a site or sites within this state in which an authorized business creates certified new jobs. See Michigan Laws 125.2090g
  • 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.
  • 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
  • Fund: means the Michigan strategic fund created under section 5, except where the context clearly requires a different definition. See Michigan Laws 125.2004
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • 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
  • 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.
  • Municipality: means that term as defined in section 4. See Michigan Laws 125.2090g
  • 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.
  • 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
  • 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 law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • 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
  • 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
  • Written agreement: means a written agreement made between the eligible business and the fund pursuant to this chapter. See Michigan Laws 125.2090g