Next Michigan development corporation definition

Next Michigan development corporation means that term as defined in section 3 of the next Michigan development act, 2010 PA 275, MCL 125.2953.
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Next Michigan development corporation means an eligible act 7 entity or eligible urban entity that meets the requirements of section 4 and has been so designated by the board of the Michigan strategic fund.
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Next Michigan development corporation means that term as defined in section 3 of the next Michigan development act.
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Examples of Next Michigan development corporation in a sentence

  • The clerk of the eligible local assessing district or the recording officer of a Next Michigan development corporation shall notify in writing the assessor of the township or city in which the eligible district or distressed parcel is located and the legislative body of each taxing unit that levies ad valorem property taxes in the eligible local assessing district in which the eligible district or distressed parcel is located.

  • Jan.2, 2015.125.2956 Next Michigan development corporation; powers, duties, and responsibilities.Sec.

  • An eligible Next Michigan business, as that term is defined in section 3 of the Michigan economic growth authority act, 1995 PA 24, MCL 207.803, and other businesses within a Next Michigan development area, but only to the extent designated as eligible property within a development plan approved by a Next Michigan development corporation.

  • Next Michigan development corporation" and "Next Michigan development district" mean those terms as defined under the Next Michigan development act, 2010 PA 275, MCL 125.2951 to 125.2959.

  • The application for the exemption was filed with the eligible local assessing district or Next Michigan development corporation before August 5, 2014.

  • The resolution approving the exemption states that the project is expected to have total new personal property of over $25,000,000.00 within 5 years of the adoption of the resolution by the eligible local assessing district or Next Michigan development corporation.

  • An eligible claimant, or a Next Michigan development corporation on behalf of an eligible claimant, may apply for an exemption to the assessment in a form and manner determined by the fund board.

  • A Next Michigan development corporation may only adopt a resolution under subsection (1) exempting new personal property from the collection of taxes under this act for new personal property located in a Next Michigan development district.

  • A taxing jurisdiction levying ad valorem taxes within the authority district that would otherwise be subject to capture which is not a party to the intergovernmental agreement may exempt its taxes from capture by adopting a resolution to that effect and filing a copy not more than 60 days after the public hearing with the recording officer of the Next Michigan development corporation.

  • For exemptions subject to resolutions adopted under subsection (1) after December 31, 2014, new personal property does not include eligible manufacturing personal property.(n) "Next Michigan development corporation" and "Next Michigan development district" mean those terms as defined under the Next Michigan development act, 2010 PA 275, MCL 125.2951 to 125.2959.History: Add.


More Definitions of Next Michigan development corporation

Next Michigan development corporation means that term as defined under the Next Michigan development act, 2010 PA 275, MCL 125.2951 to 125.2959.
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Next Michigan development corporation means that term
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Next Michigan development corporation means that term as defined under the Next Michigan Development Act, i.e., an eligible act 7 entity or an eligible urban entity that meets certain requirements under the Act and is designated as an NMDC by the board of the Michigan Strategic Fund. An "eligible act 7 entity" is a separate legal and administrative entity formed by interlocal agreement under the Urban Cooperation Act among two or more local
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Related to Next Michigan development corporation

  • 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 124.501 to 124.512, by a contractual interlocal agreement effective April 5, 1999, as amended, between local participating economic development corporations formed under the economic development corporations act, 1974 PA 338, MCL 125.1601 to 125.1636, and the Michigan strategic fund. If the Michigan economic development corporation is unable for any reason to perform its duties under this act, those duties may be exercised by the Michigan strategic fund.

  • Nonprofit corporation means a nonstock corporation organized under ch. 181 that is a nonprofit corporation, as defined in s. 181.0103 (17).

  • Family farm corporation means a corporation founded for the purpose of farming agricultural land in which the majority of the voting stock is held by and the majority of the stockholders are persons or the spouse of persons related to each other within the fourth degree of kinship, according to the rules of the civil law, and at least one of the related persons is residing on or actively operating the farm, and none of whose stockholders are a corporation. A family farm corporation does not cease to qualify under this division where, by reason of any devise, bequest, or the operation of the laws of descent or distribution, the ownership of shares of voting stock is transferred to another person, as long as that person is within the degree of kinship stipulated in this division.

  • Condominium Corporation means a condominium or strata corporation established under provincial legislation.

  • Urban Coordinating Council Empowerment Neighborhood means a neighborhood given priority access to State resources through the New Jersey Redevelopment Authority.

  • Campus means any place where the college conducts or sponsors educational, public service, or research activities.

  • Urban Enterprise Zones means a zone designated by the New Jersey Enterprise Zone Authority pursuant to the New Jersey Urban Enterprise Zones Act, N.J.S.A. 52:27H-60 et. seq.

  • Renewable energy means the grid quality electricity generated from renewable energy sources;

  • Asset Management Plan means a plan created by the department and approved by the state transportation commission or a plan created by a local road agency and approved by the local road agency's governing body that includes provisions for asset inventory, performance goals, risk of failure analysis, anticipated revenues and expenses, performance outcomes, and coordination with other infrastructure owners.

  • Community Development Director means the Director of City’s Department of Community Development or his or her designee.