(i) The storage, generation, reformation, or distribution of clean fuels integrated within an alternative energy system or alternative energy vehicle, not including an anaerobic digester energy system or a hydroelectric energy system, for use within the alternative energy system or alternative energy vehicle. See Michigan Laws 125.4402

Alternative energy technology business: means a business engaged in the research, development, or manufacturing of alternative energy technology or a business located in an authority district that includes a military installation that was operated by the United States Department of Defense and closed after 1980. See Michigan Laws 125.4402

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.

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

Assessed value: means 1 of the following:

  (i) For valuations made before January 1, 1995, the state equalized valuation as determined under the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 125.4301

Assessed value: means 1 of the following:

  (i) For valuations made before January 1, 1995, the state equalized valuation as determined under the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 125.4402

Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.

Authority: means a tax increment finance authority created under this part. See Michigan Laws 125.4301

Authority: means a local development finance authority created pursuant to this part. See Michigan Laws 125.4402

Authority district: means that area within which an authority exercises its powers and within which 1 or more development areas may exist. See Michigan Laws 125.4301

Authority district: means an area or areas within which an authority exercises its powers. See Michigan Laws 125.4402

Board: means the governing body of an authority. See Michigan Laws 125.4301

Board: means the governing body of an authority. See Michigan Laws 125.4402

Business development area: means an area designated as a certified industrial park under this part prior to June 29, 2000, or an area designated in the tax increment financing plan that meets all of the following requirements:

  (i) The area is zoned to allow its use for eligible property. See Michigan Laws 125.4402

Business incubator: means real and personal property that meets all of the following requirements:

  (i) Is located in a certified technology park or a certified alternative energy park. See Michigan Laws 125.4402

Captured assessed value: means the amount in any 1 year by which the current assessed value of the development area, including the assessed value of property for which specific local taxes are paid in lieu of property taxes as determined in subdivision (w), exceeds the initial assessed value. See Michigan Laws 125.4301

Captured assessed value: means the amount in any 1 year by which the current assessed value of the eligible property identified in the tax increment financing plan or, for a certified technology park, a certified alternative energy park, or a Next Michigan development area, the real and personal property included in the tax increment financing plan, including the current assessed value of property for which specific local taxes are paid in lieu of property taxes as determined pursuant to subdivision (hh), exceeds the initial assessed value. See Michigan Laws 125.4402

Certified alternative energy park: means that portion of an authority district designated by a written agreement entered into pursuant to section 412c between the authority, the municipality or municipalities, and the Michigan economic development corporation. See Michigan Laws 125.4402

Certified technology park: means that portion of the authority district designated by a written agreement entered into pursuant to section 412a between the authority, the municipality, and the Michigan economic development corporation. See Michigan Laws 125.4402

Chief executive officer: means the mayor or city manager of a city, the president of a village, or, for other local units of government or school districts, the person charged by law with the supervision of the functions of the local unit of government or school district. See Michigan Laws 125.4402

Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.

Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.

Contract: A legal written agreement that becomes binding when signed.

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 that advisory body established pursuant to section 20. See Michigan Laws 125.4301

Dependent: A person dependent for support upon another.

Development area: means that area to which a development plan is applicable. See Michigan Laws 125.4301

Development plan: means that information and those requirements for a development set forth in section 16. See Michigan Laws 125.4301

Development plan: means that information and those requirements for a development set forth in section 415. See Michigan Laws 125.4402

Development program: means the implementation of the development plan. See Michigan Laws 125.4301

district: means that area to which the tax increment finance plan pertains. See Michigan Laws 125.4301

Eligible advance: means an advance made before August 19, 1993. See Michigan Laws 125.4402

Eligible obligation: means an obligation issued or incurred by an authority or by a municipality on behalf of an authority before August 19, 1993 and its subsequent refunding by a qualified refunding obligation. See Michigan Laws 125.4402

Eligible property: means land improvements, buildings, structures, and other real property, and machinery, equipment, furniture, and fixtures, or any part or accessory thereof whether completed or in the process of construction comprising an integrated whole, located within an authority district, of which the primary purpose and use is or will be 1 of the following:

  (i) The manufacture of goods or materials or the processing of goods or materials by physical or chemical change. See Michigan Laws 125.4402

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.

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.

Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.

Governing body: means the elected body of a municipality having legislative powers. See Michigan Laws 125.4301

Governing body: means , except as otherwise provided in this subdivision, the elected body having legislative powers of a municipality creating an authority under this part. See Michigan Laws 125.4402

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

Initial assessed value: means the assessed value of the eligible property identified in the tax increment financing plan or, for a certified technology park, a certified alternative energy park, or a Next Michigan development area, the assessed value of any real and personal property included in the tax increment financing plan, at the time the resolution establishing the tax increment financing plan is approved as shown by the most recent assessment roll for which equalization has been completed at the time the resolution is adopted or, for property that becomes eligible property in other than a certified technology park or a certified alternative energy park after the date the plan is approved, at the time the property becomes eligible property. See Michigan Laws 125.4402

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.

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.

Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.

Michigan economic development corporation: means 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 125.4402

Michigan strategic fund: means the Michigan strategic fund as described in the Michigan strategic fund act, 1984 PA 270, MCL 125. See Michigan Laws 125.4402

Municipality: means a city. See Michigan Laws 125.4301

Municipality: means a city, village, or urban township. See Michigan Laws 125.4402

Next Michigan development area: means a portion of an authority district designated by a Next Michigan development corporation under section 412e to which a development plan is applicable. See Michigan Laws 125.4402

Next Michigan development corporation: means that term as defined in section 3 of the next Michigan development act, 2010 PA 275, MCL 125. See Michigan Laws 125.4402

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.

Obligation: means a written promise to pay, whether evidenced by a contract, agreement, lease, sublease, bond, or note, or a requirement to pay imposed by law. See Michigan Laws 125.4301

Obligation: means a written promise to pay, whether evidenced by a contract, agreement, lease, sublease, bond, or note, or a requirement to pay imposed by law. See Michigan Laws 125.4402

Other protected obligation: means :

  (i) A qualified refunding obligation issued to refund an obligation described in subparagraph (ii) or (iii), an obligation that is not a qualified refunding obligation that is issued to refund an eligible obligation, or a qualified refunding obligation issued to refund an obligation described in this subparagraph. See Michigan Laws 125.4402

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.

Probate: Proving a will

Public facility: means 1 or more of the following:

  (i) A street, plaza, or pedestrian mall, and any improvements to a street, plaza, boulevard, alley, or pedestrian mall, including street furniture and beautification, park, parking facility, recreation facility, playground, school, library, public institution or administration building, right-of-way, structure, waterway, bridge, lake, pond, canal, utility line or pipeline, transit-oriented development, transit-oriented facility, and other similar facilities and necessary easements of these facilities designed and dedicated to use by the public generally or used by a public agency. See Michigan Laws 125.4301

Public facility: means 1 or more of the following:

  (i) A street, road, bridge, storm water or sanitary sewer, sewage treatment facility, facility designed to reduce, eliminate, or prevent the spread of identified soil or groundwater contamination, drainage system, retention basin, pretreatment facility, waterway, waterline, water storage facility, rail line, electric, gas, telephone or other communications, or any other type of utility line or pipeline, transit-oriented facility, transit-oriented development, or other similar or related structure or improvement, together with necessary easements for the structure or improvement. See Michigan Laws 125.4402

Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.

Qualified refunding obligation: means an obligation issued or incurred by an authority or by a municipality on behalf of an authority to refund an obligation if the refunding obligation meets both of the following:

  (i) The net present value of the principal and interest to be paid on the refunding obligation, including the cost of issuance, will be less than the net present value of the principal and interest to be paid on the obligation being refunded, as calculated using a method approved by the department of treasury. See Michigan Laws 125.4402

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.

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

Specific local taxes: means a tax levied under 1974 PA 198, MCL 207. See Michigan Laws 125.4402

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.

Tax increment financing plan: means that information and those requirements set forth in section 313 to 315. See Michigan Laws 125.4301

Tax increment revenues: means the amount of ad valorem property taxes and specific local taxes attributable to the application of the levy of all taxing jurisdictions upon the captured assessed value of real and personal property in the development area, subject to the following requirements:

  (i) Tax increment revenues include ad valorem property taxes and specific local taxes attributable to the application of the levy of all taxing jurisdictions other than the state pursuant to the state education tax act, 1993 PA 331, MCL 211. See Michigan Laws 125.4301

Tax increment revenues: means the amount of ad valorem property taxes and specific local taxes attributable to the application of the levy of all taxing jurisdictions upon the captured assessed value of eligible property within the district or, for purposes of a certified technology park, a Next Michigan development area, or a certified alternative energy park, real or personal property that is located within the certified technology park, a Next Michigan development area, or a certified alternative energy park and included within the tax increment financing plan, subject to the following requirements:

  (i) Tax increment revenues include ad valorem property taxes and specific local taxes attributable to the application of the levy of all taxing jurisdictions, other than the state pursuant to the state education tax act, 1993 PA 331, MCL 211. See Michigan Laws 125.4402

Transit-oriented development: means infrastructure improvements that are located within 1/2 mile of a transit station or transit-oriented facility that promotes transit ridership or passenger rail use as determined by the board and approved by the municipality in which it is located. See Michigan Laws 125.4402

Transit-oriented facility: means a facility that houses a transit station in a manner that promotes transit ridership or passenger rail use. See Michigan Laws 125.4402

Trustee: A person or institution holding and administering property in trust.

United States: shall be construed to include the district and territories. See Michigan Laws 8.3o

Urban township: means a township that meets 1 or more of the following:

  (i) Meets all of the following requirements:

  (A) Has a population of 20,000 or more, or has a population of 10,000 or more but is located in a county with a population of 400,000 or more. See Michigan Laws 125.4402

Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.