Common use of INDUSTRY PROMOTION FUND Clause in Contracts

INDUSTRY PROMOTION FUND. 1. The Contractor agrees to contribute to the Michigan Infrastructure and Transportation Association Industry Promotion Fund the sum of twelve ($0.12) cents per hour for all hours worked by each employee working under this Agreement, without regard to whether the employee was working on straight time or overtime. The amount of the contribution will increase each year as noted in the Wage and Fringe Schedule. 2. The contributions to the Industry Promotion Fund shall be deposited each month, or at such other regular intervals as may be determined by the Association, to the depository designated by the Association and such contributions shall be reported on such form as may be designated by the Association. 3. The activities of the Industry Promotion Fund shall be determined by the Association and shall be financed from the payments herein provided for. 4. The Contractor hereby agrees that the designated representative of the Association shall be permitted, upon request to audit the payroll records of the Contractors to determine compliance with this Article. 5. It is agreed by the Employer that the Industry Promotion Fund shall not be used for lobbying in support of anti-labor legislation of any kind at municipal, state or national levels or to subsidize any Contractor or Contractor Association in connection with any work stoppage or strike, nor shall it be used to support any anti-union activity. 6. A Contractor who elects not to make contributions to the Michigan Infrastructure and Transportation Association Industry Promotion Fund shall so notify the Union in writing, and in lieu of making the contribution to the Industry Promotion Fund, shall pay twelve ($0.12) cents per hour to the Michigan Carpenters’ Apprenticeship and Training Fund for actual per hour to be in addition to the contribution to the Michigan Carpenters’ Apprenticeship and Training Fund as provided for in Article IV, (e), of this Agreement. The amount of the contribution will increase as noted in the Wage and Fringe Schedule.