Act 270 of 1984 - MICHIGAN STRATEGIC FUND ACT (125.2001 - 125.2094)
- 270-1984-1 - CHAPTER 1 (125.2001...125.2014)
- Section 125.2001 - Legislative finding and declaration.
- Section 125.2002 - Purposes of act.
- Section 125.2003 - Short title.
- Section 125.2004 - Definitions.
- Section 125.2005 - Michigan strategic fund; creation; purposes, powers, duties, and functions generally; appointment, qualifications, and terms of members; chairperson, president, and vice-president;
- Section 125.2006 - Members, officers, and employees subject to MCL 15.321 to 15.330 or MCL 15.301 to 15.310; discharge of duties by member, officer, employee, or agent; prohibited conduct; conflict of
- Section 125.2007 - Powers and duties of fund.
- Section 125.2007a - Compliance with divestment from terror act.
- Section 125.2008 - Evaluation procedures; priorities; targets.
- Section 125.2009 - Annual status report; audit.
- Section 125.2010 - Applicability of limitation or restriction.
- Section 125.2011 - Request for assistance; approval or disapproval; reconsideration.
- Section 125.2012 - Private sector financial support; associated transactions.
- Section 125.2012a - Loan, loan insurance, or guarantee for public work; requirements.
- Section 125.2013 - Total debt owed to fund; limitation.
- Section 125.2014 - Loans and transactions.
- 270-1984-2 - CHAPTER 2 (125.2021...125.2026)
- Section 125.2021 - Job development authority and Michigan economic development authority; acquisitions and succession by fund to rights, properties, obligations, and duties thereof.
- Section 125.2022 - Economic development fund; succession by fund to ownership and operation thereof; payments pursuant to heritage trust act of 1982; appropriation; utilization and expenditure of mone
- Section 125.2023 - Bonds or notes.
- Section 125.2024 - Contracts for management and operation of fund.
- Section 125.2025 - Actions by fund; equal opportunity criteria; considerations when entering transaction.
- Section 125.2026 - Staff and other support; cooperation of state agencies.
- 270-1984-2A - CHAPTER 2A (125.2029...125.2029g)
- Section 125.2029 - Definitions.
- Section 125.2029a - Michigan film office; creation in fund; successor office; duties; powers; budget, procurement, and management functions; administration by commissioner and president of fund; suppo
- Section 125.2029b - Michigan film commissioner; member of state classified service; terms and conditions of employment; agreement; term; oath of office; service as advisor; duties; meetings; exercise
- Section 125.2029c - Michigan film office advisory council; creation; membership; chairperson, vice-chairperson, and officers; terms; vacancy; compensation; duties; public meeting; quorum; writings; co
- Section 125.2029d - Michigan film promotion fund; creation within state treasury; receipt of money or other assets; investment; money remaining in fund at close of fiscal year; expenditure.
- Section 125.2029e - Michigan economic development corporation; joint exercise of power.
- Section 125.2029f - Representation as employee or agent of office, commissioner, or council; authorization required; violation as misdemeanor; penalty.
- Section 125.2029g - Transfer of records, personnel, property, grants, and unexpended balances.
- 270-1984-3 - CHAPTER 3 (125.2031...125.2037)
- Section 125.2031 - Center for assistance to private enterprise; establishment and operation.
- Section 125.2032 - Private enterprise assistance account; payments into account; transfer of money.
- Section 125.2033 - Loans, limitations.
- Section 125.2034 - Loans, grants, or investments; limitations; condition.
- Section 125.2035 - Loans; use; recipients; terms and conditions.
- Section 125.2036 - Loan for economic development project; legal assurance as to use of money.
- Section 125.2037 - Paramount priority in making loans.
- 270-1984-3A - CHAPTER 3A (125.2038...125.2039)
- 270-1984-4 - CHAPTER 4 (125.2041...125.2049a)
- Section 125.2041 - "Public work" defined.
- Section 125.2042 - Center for assistance to local government; establishment and operation.
- Section 125.2043 - Local government assistance account; payments into account; transfer of money.
- Section 125.2044 - Utilization of money; purposes.
- Section 125.2045 - Loans, loan insurance, or guarantees; requirements.
- Section 125.2046 - Loans, loan insurance, or guarantees; limitation; lawful public improvement; prohibition; application.
- Section 125.2047 - Borrowing or contracting for loan insurance and loan guarantees; debt limitation; approval; certain acts inapplicable.
- Section 125.2048 - Loans, loan insurance, or loan guarantees; terms and conditions.
- Section 125.2049 - Loans, loan insurance, or loan guarantees; conditions.
- Section 125.2049a - Paramount priority.
- 270-1984-5 - CHAPTER 5 (125.2051...125.2058)
- Section 125.2051 - Center for loan insurance; establishment and operation.
- Section 125.2052 - Loan insurance account; payments into accounts; transfer of money.
- Section 125.2053 - Powers of fund through center for loan insurance.
- Section 125.2054 - Contract of insurance.
- Section 125.2055 - Insurance, guarantees, or letters of credit; limitation; paramount priority.
- Section 125.2056 - Insurance, guarantees, or letters of credit; legal assurance of use; terms and conditions; premiums or fees; guidelines.
- Section 125.2057 - Agreements with lenders.
- Section 125.2058 - Special fund; purpose.
- 270-1984-6 - CHAPTER 6 (125.2061...125.2069a)
- Section 125.2061 - Definitions.
- Section 125.2062 - Center for minority venture capital; establishment and operation.
- Section 125.2063 - Certification of minority venture capital company and MESBIC; purpose; construction of certification; statement in documents; forwarding certification applications; qualifications f
- Section 125.2064 - Considerations prior to certification.
- Section 125.2065 - Percentage of venture capital investments; encouraging certified MESBIC to meet investment requirements; “investment” defined.
- Section 125.2066 - Minority venture capital company as certified MESBIC.
- Section 125.2067 - Independent program audit.
- Section 125.2068 - Effective date and duration of certification; eligibility as recipient of investments; approval and effect of tax credit disqualification.
- Section 125.2069 - Revocation of certification; notice; remedying deficiencies and complying with requirements; determination.
- Section 125.2069a - Tax credit certification; information; report.
- 270-1984-7 - CHAPTER 7 (125.2071...125.2079)
- Section 125.2071 - Definitions.
- Section 125.2072 - Center for research and development; establishment and operation.
- Section 125.2073 - Research center fund; payments into fund; transfer of money.
- Section 125.2074 - Research center fund; use of money; purpose; obligations of present or emerging technologies; purposes of financial aid; terms and conditions of financial aid; minimum financial aid
- Section 125.2075 - Business plan.
- Section 125.2076 - Scope of succession to rights, properties, obligations, and duties of Michigan economic development authority; payments in research center fund.
- Section 125.2077 - Higher education coordination council; membership.
- Section 125.2078 - Service station matching grant program.
- Section 125.2079 - Location of renewable fuel plants; inventory of prime sites; availability on internet; assistance.
- 270-1984-8 - CHAPTER 8 (125.2081...125.2087)
- Section 125.2081 - “Economic development fund” defined.
- Section 125.2082 - Center for product development; establishment and operation.
- Section 125.2083 - Product development program account; payments into account; transfer or deposit of money.
- Section 125.2084 - Product development program account; utilization of money; purpose; terms and conditions of financial aid; condition to financial aid.
- Section 125.2085 - Recipients of financial aid.
- Section 125.2086 - Amount of financial aid and terms of venture agreement; evaluation and examination.
- Section 125.2086a - Financial aid to nonprofit corporation; powers and duties of corporation; fund as party to venture agreement; provisions of venture agreement.
- Section 125.2087 - Advisory panel; purpose; membership; report; recommendation.
- 270-1984-8A - CHAPTER 8A (125.2088...125.2088q)
- Section 125.2088 - Legislative findings; intent; scope of activities.
- Section 125.2088a - Definitions.
- Section 125.2088b - Programs created and operated by fund board; expenditures; use of appropriated or transferred money.
- Section 125.2088c - Duties of fund board.
- Section 125.2088d - Loan enhancement program; loan guarantee program; small business capital access program; Michigan film and digital media investment loan program; choose Michigan film and digital m
- Section 125.2088e - Private equity investment program.
- Section 125.2088f - Venture capital investment program.
- Section 125.2088g - Mezzanine investment program.
- Section 125.2088h - Investment fund; creation; duties.
- Section 125.2088i - Office of chief compliance officer.
- Section 125.2088j - Disbursements.
- Section 125.2088k - Strategic economic investment and commercialization board; creation; powers, duties, and authority; award of grants and loans; duties of fund; standards for expenditures of money;
- Section 125.2088m - Member, employee, or agent of commercialization board; conduct.
- Section 125.2088n - Audits; reports.
- Section 125.2088o - Technology transfer acceleration program.
- Section 125.2088p - Michigan life sciences pipeline; establishment; purpose; commencement of operations; awards; selection of pipeline operator; request for proposals; contract; duration; report; "pip
- Section 125.2088q - Centers of energy excellence program; creation; purpose; agreements; application; expenditures; limitation; use of funds; evaluation of applications; establishment of standard proc
- 270-1984-8B - CHAPTER 8B (125.2089...125.2089d)
- Section 125.2089 - Legislative findings; intent; scope of activities.
- Section 125.2089a - Michigan promotion program; establishment; tourism promotion explained; funding; use of appropriation provided from 21st century jobs trust fund.
- Section 125.2089b - Michigan promotion program; appropriation and transfer of funds; appropriation as work project; carrying forward unencumbered or unallotted funds; compliance with MCL 18.1451a.
- Section 125.2089c - Selection of vendors; request for proposal; evaluation of proposals; establishment of standard process; appointment of committee to review proposals; use of funds; limitation.
- Section 125.2089d - Reports; mechanism to report return on investment for agriculture-related tourism; use of data to establish baseline.
- 270-1984-9 - CHAPTER 9 (125.2091...125.2094)