Terms Used In Michigan Laws > Chapter 333 > Act 527 of 2008 > Part 2

• 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
• 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.
• Dealer: means that term as defined in section 11 of the Michigan vehicle code, 1949 PA 300, MCL 257. See Michigan Laws 205.51
• Delivery charges: means charges by the seller for preparation and delivery to a location designated by the purchaser of tangible personal property or services. See Michigan Laws 205.51a
• Department: means the department of treasury. See Michigan Laws 205.51
• Department: means the department of community health. See Michigan Laws 333.26543
• 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.
• Fund: means the children's hospital of Michigan fund created in section 15. See Michigan Laws 333.26543
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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}
• New motor vehicle: means that term as defined in section 33a of the Michigan vehicle code, 1949 PA 300, MCL 257. See Michigan Laws 205.51
• 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.
• 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, firm, partnership, joint venture, association, social club, fraternal organization, municipal or private corporation whether organized for profit or not, company, limited liability company, estate, trust, receiver, trustee, syndicate, the United States, this state, county, or any other group or combination acting as a unit, and includes the plural as well as the singular number, unless the intention to give a more limited meaning is disclosed by the context. See Michigan Laws 205.51
• Personal property: All property that is not real property.
• Recreational vehicle: means that term as defined in section 49a of the Michigan vehicle code, 1949 PA 300, MCL 257. See Michigan Laws 205.51
• Sales price: means the total amount of consideration, including cash, credit, property, and services, for which tangible personal property or services are sold, leased, or rented, valued in money, whether received in money or otherwise, and applies to the measure subject to sales tax. See Michigan Laws 205.51
• 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 of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Tangible personal property: means personal property that can be seen, weighed, measured, felt, or touched or that is in any other manner perceptible to the senses and includes electricity, water, gas, steam, and prewritten computer software. See Michigan Laws 205.51a
• Tax: includes a tax, interest, or penalty levied under this act. See Michigan Laws 205.51
• Taxpayer: means a person subject to a tax under this act. See Michigan Laws 205.51
• Textiles: means goods that are made of or incorporate woven or nonwoven fabric, including, but not limited to, clothing, shoes, hats, gloves, handkerchiefs, curtains, towels, sheets, pillows, pillow cases, tablecloths, napkins, aprons, linens, floor mops, floor mats, and thread. See Michigan Laws 205.51
• 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
• Utility: means either of the following: