reglab/housing_qa huggingface dataset:
MI Comp L § 125.2034 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-3 - Chapter 3 (125.2031...125.2037)|Section 125.2034 - Loans, Grants, or Investments; Limitations; Condition.

125.2034 Loans, grants, or investments; limitations; condition. Sec. 34.  (1) Subject to the limitations provided by this chapter, the fund may utilize the money held in the private enterprise assistance account to make loans or grants to, or invest in, a certified development company under sections 501 to 503 of the small business investment act of 1958, 15 U.S.C. 695 to 697, and the regulations promulgated under those sections; a small business lending company under the small business act, 15 U.S.C. 631, 632 to 634, 636, 637 to 639, 640 to 649, and the regulations promulgated under that act; a minority enterprise small business investment corporation or equivalent venture capital corporation; the Michigan business development corporation created under former Act No. 117 of the Public Acts of 1963; or a similar entity that will provide financing assistance to business firms.  (2) Loans made pursuant to this section shall be made on the condition that the recipient of the loan will utilize the money to assist economic development projects within this state which have the potential for creating new jobs or retaining current jobs within this state. History: 1984, Act 270, Eff. Mar. 29, 1985 ;-- Am. 1987, Act 278, Imd. Eff. Jan. 6, 1988 Popular Name: Strategic Fund
MI Comp L § 125.2035 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-3 - Chapter 3 (125.2031...125.2037)|Section 125.2035 - Loans; Use; Recipients; Terms and Conditions.

125.2035 Loans; use; recipients; terms and conditions. Sec. 35.  (1) Loans made from the private enterprise assistance account may be used for any purpose consistent with the purposes and objectives of the fund and this chapter including, but not limited to, the acquisition, improvement, or rehabilitation of land and buildings; the acquisition of machinery, equipment, or services; working capital; or for any other purpose reasonably related to an economic development project.  (2) Loans made from the private enterprise assistance account may be made to any person or entity, public or private, organized for profit or not for profit, consistent with the provisions of sections 33 and 34 and other applicable provisions of law.  (3) Loans from the private enterprise assistance account may be made on such terms and conditions as the fund shall, in its sole discretion, determine to be reasonable, appropriate, and consistent with the purposes and objectives of the fund and this act, which may include, but not be limited to, the pledging of adequate security. History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund
MI Comp L § 125.2036 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-3 - Chapter 3 (125.2031...125.2037)|Section 125.2036 - Loan for Economic Development Project; Legal Assurance as to Use of Money.

125.2036 Loan for economic development project; legal assurance as to use of money. Sec. 36.  (1) A loan shall not be made from the private enterprise assistance account for an economic development project pursuant to section 33 unless significant private sector financial support is associated with the economic development project.  (2) A loan shall not be made from the private enterprise assistance account pursuant to section 34 unless the fund is legally assured that the money will be used to assist economic development projects which also will have significant private sector financial support. History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund
MI Comp L § 125.2037 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-3 - Chapter 3 (125.2031...125.2037)|Section 125.2037 - Paramount Priority in Making Loans.

125.2037 Paramount priority in making loans.  Sec. 37.  The fund shall give paramount priority in making loans from the private enterprise assistance account to economic development projects which have the greatest potential for creating new jobs or retaining current jobs within this state.  History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund
MI Comp L § 125.2038 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-3A - Chapter 3a (125.2038...125.2039)|Section 125.2038 - Legislative Findings and Declaration; Intent.

125.2038 Legislative findings and declaration; intent.Sec. 38.  (1) The legislature finds and declares that the activities authorized under this chapter to promote this state and the creation of jobs in this state are a public purpose and of paramount concern in the interest of the health, safety, and general welfare of the citizens of this state. It is the intent of the legislature that the economic benefits and creation of jobs resulting from this chapter shall accrue substantially within this state.  (2) Activities authorized under this chapter shall not be considered a project, economic development project, or a product assisted by the fund for purposes of chapter 1 or 2. History: Add. 2010, Act 36, Imd. Eff. Mar. 31, 2010 Compiler's Notes: For transfer of the Michigan strategic fund from department of treasury to department of talent and economic development, and transfer of powers and duties of board of directors of Michigan strategic fund to new board of directors, see E.R.O. No. 2014-6, compiled at MCL 125.1995.Popular Name: Strategic Fund
MI Comp L § 125.2039 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-3A - Chapter 3a (125.2038...125.2039)|Section 125.2039 - Michigan Promotion Fund; Creation; Administration; Use; Credit of Amounts; Investment; Disbursement; Borrowing Money and Issuing Notes; Appropriation.

125.2039 Michigan promotion fund; creation; administration; use; credit of amounts; investment; disbursement; borrowing money and issuing notes; appropriation.Sec. 39.  (1) The Michigan promotion fund is created as a separate fund in the state treasury and shall be administered by the state treasurer.  (2) The Michigan promotion fund shall be used to promote economic development and job creation in this state through the promotion of tourism.  (3) The state treasurer shall credit to the Michigan promotion fund all amounts designated for the Michigan promotion fund by this chapter and section 21 of the use tax act, 1937 PA 94, MCL 205.111.  (4) The state treasurer shall direct the investment of Michigan promotion fund money in the same manner as all other funds are invested. The state treasurer shall credit to the Michigan promotion fund the interest and earnings from the fund.  (5) Money deposited, funds granted, or funds received as gifts or donations to the Michigan promotion fund shall be available for disbursement when deposited. The Michigan promotion fund is not required to maintain a minimum balance. Funds may be disbursed from the Michigan promotion fund at any time. The Michigan promotion fund shall not be used to promote business development.  (6) Money in the Michigan promotion fund at the close of the state fiscal year shall remain in the Michigan promotion fund and shall not lapse to the state general fund.  (7) Through December 31, 2010, the Michigan promotion fund may borrow money and issue notes to provide sufficient funds for achieving the Michigan promotion fund's purpose and objectives, including, but not limited to, amounts necessary to pay the costs for promoting economic development and job creation in this state through the promotion of tourism; for all other expenditures of the Michigan promotion fund incident to and necessary or convenient to carry out the Michigan promotion fund's purposes, objectives, and powers; and for any combination of these.  (8) For the fiscal year ending September 30, 2010, $9,500,000.00 is appropriated from the Michigan promotion fund to be used as provided in this chapter. History: Add. 2010, Act 36, Imd. Eff. Mar. 31, 2010 Compiler's Notes: For transfer of the Michigan strategic fund from department of treasury to department of talent and economic development, and transfer of powers and duties of board of directors of Michigan strategic fund to new board of directors, see E.R.O. No. 2014-6, compiled at MCL 125.1995.Popular Name: Strategic Fund
MI Comp L § 125.2041 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-4 - Chapter 4 (125.2041...125.2049a)|Section 125.2041 - "Public Work" Defined.

125.2041 "Public work" defined. Sec. 41.  As used in this chapter, "public work" means the acquisition, construction, or improvement of public works; the acquisition of easements necessary for the public works; the acquisition of real and personal property and interests in real and personal property which are necessary for the public works; and the demolition of structures, site preparation, relocation costs, building rehabilitation and administrative costs, including, but not limited to, the cost of technical and economic feasibility studies or architectural, engineering, legal, and accounting fees, which are necessary for the public works. History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund
MI Comp L § 125.2042 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-4 - Chapter 4 (125.2041...125.2049a)|Section 125.2042 - Center for Assistance to Local Government; Establishment and Operation.

125.2042 Center for assistance to local government; establishment and operation. Sec. 42.  The fund shall establish and operate a center for assistance to local government.  History: 1984, Act 270, Eff. Mar. 29, 1985 Compiler's Notes: For transfer of the Michigan strategic fund from department of treasury to department of talent and economic development, and transfer of powers and duties of board of directors of Michigan strategic fund to new board of directors, see E.R.O. No. 2014-6, compiled at MCL 125.1995.Popular Name: Strategic Fund
MI Comp L § 125.2043 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-4 - Chapter 4 (125.2041...125.2049a)|Section 125.2043 - Local Government Assistance Account; Payments Into Account; Transfer of Money.

125.2043 Local government assistance account; payments into account; transfer of money. Sec. 43.  (1) The center for assistance to local government shall be funded by an account, which shall be established and managed by the fund, to be known as the local government assistance account.  (2) The fund shall pay into the account any money appropriated or otherwise provided by this state for the purposes of the center; any money determined by the fund to be paid into the account from the economic development fund to which the fund succeeded in ownership pursuant to section 22; any money which the fund receives in repayment of loans made through the center for assistance to local government; and any other money made available to the fund for the purposes of the center from any other source, public or private.  (3) Money in the local government assistance account may be transferred into any other account established by the fund, unless the fund is otherwise obligated to retain the money in the local government assistance account or except if the money was appropriated by this state for the purposes of the center. History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund
MI Comp L § 125.2044 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-4 - Chapter 4 (125.2041...125.2049a)|Section 125.2044 - Utilization of Money; Purposes.

125.2044 Utilization of money; purposes.  Sec. 44.  Subject to the limitations provided by this chapter, the fund may utilize money held in the local government assistance account for 1 or more of the following purposes:  (a) To make loans to a municipality.  (b) To establish a reserve fund to insure or guarantee borrowings of a municipality. History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund
MI Comp L § 125.2045 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-4 - Chapter 4 (125.2041...125.2049a)|Section 125.2045 - Loans, Loan Insurance, or Guarantees; Requirements.

125.2045 Loans, loan insurance, or guarantees; requirements. Sec. 45.  Loans, loan insurance, or guarantees provided pursuant to section 44 shall be made only for public works which will assist an economic development project, including those portions of an endeavor devoted to the sale of goods at retail or housing if these portions are inseparable from the economic development project and the public work also assists those portions of the endeavor qualified as an economic development project, which has the potential of creating new jobs or retaining current jobs within this state and which is consistent with the purposes and objectives of the fund. History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund
MI Comp L § 125.2046 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-4 - Chapter 4 (125.2041...125.2049a)|Section 125.2046 - Loans, Loan Insurance, or Guarantees; Limitation; Lawful Public Improvement; Prohibition; Application.

125.2046 Loans, loan insurance, or guarantees; limitation; lawful public improvement; prohibition; application. Sec. 46.  (1) A loan, loan insurance, or a loan guarantee shall be provided pursuant to section 44 only for public works.  (2) A public work financed in whole or in part pursuant to section 44 shall be a public improvement which the municipality is empowered to provide for the public under law or its charter. However, a public work shall not include public systems of mass transportation that involve solely the transportation of individuals.  (3) A municipality shall apply for a loan, loan insurance, or loan guarantee pursuant to section 44 either in conjunction with any application the economic development project may make to the fund or with an affidavit of the economic development project attesting to the manner in which the public work will assist the economic development project. History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund
MI Comp L § 125.2047 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-4 - Chapter 4 (125.2041...125.2049a)|Section 125.2047 - Borrowing or Contracting for Loan Insurance and Loan Guarantees; Debt Limitation; Approval; Certain Acts Inapplicable.

125.2047 Borrowing or contracting for loan insurance and loan guarantees; debt limitation; approval; certain acts inapplicable. Sec. 47.  A municipality is hereby authorized to borrow or contract for loan insurance and loan guarantees from the fund pursuant to this act, notwithstanding any charter provision to the contrary, or other provision of law. Any amount borrowed by a municipality pursuant to this act shall not be included in, or charged against, any statutory or charter debt limitation of the municipality. A municipality shall not be required to seek or obtain the approval of the electors to borrow money pursuant to this act. The borrowing shall not be subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821, nor to section 5(g) of the home rule city act, 1909 PA 279, MCL 117.5. History: 1984, Act 270, Eff. Mar. 29, 1985 ;-- Am. 2002, Act 556, Imd. Eff. July 26, 2002 Popular Name: Strategic Fund
MI Comp L § 125.2048 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-4 - Chapter 4 (125.2041...125.2049a)|Section 125.2048 - Loans, Loan Insurance, or Loan Guarantees; Terms and Conditions.

125.2048 Loans, loan insurance, or loan guarantees; terms and conditions. Sec. 48.  Loans, loan insurance, or loan guarantees provided from the local government assistance account may be on such terms and conditions as the fund, in its sole discretion, determines to be reasonable, appropriate, and consistent with the purposes and objectives of the fund and this chapter. History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund
MI Comp L § 125.2049 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-4 - Chapter 4 (125.2041...125.2049a)|Section 125.2049 - Loans, Loan Insurance, or Loan Guarantees; Conditions.

125.2049 Loans, loan insurance, or loan guarantees; conditions. Sec. 49.  A loan, loan insurance, or loan guarantee shall not be provided from the local government assistance account unless it is for a public work which will assist an economic development project and unless the fund finds that there is significant private sector financial support associated with the economic development project. History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund
MI Comp L § 125.2049a (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-4 - Chapter 4 (125.2041...125.2049a)|Section 125.2049a - Paramount Priority.

125.2049a Paramount priority. Sec. 49a.  The fund shall give paramount priority in providing loans, loan insurance, and loan guarantees from the local government assistance account to municipalities whose past borrowing practices evidence the ability and commitment to make timely payment of principal and interest installments for its obligations and for public works which assist economic development projects which have the greatest potential for creating new jobs or retaining current jobs within this state. History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund
MI Comp L § 125.2051 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-5 - Chapter 5 (125.2051...125.2058)|Section 125.2051 - Center for Loan Insurance; Establishment and Operation.

125.2051 Center for loan insurance; establishment and operation. Sec. 51.  The fund shall establish and operate a center for loan insurance. History: 1984, Act 270, Eff. Mar. 29, 1985 Compiler's Notes: For transfer of the Michigan strategic fund from department of treasury to department of talent and economic development, and transfer of powers and duties of board of directors of Michigan strategic fund to new board of directors, see E.R.O. No. 2014-6, compiled at MCL 125.1995.Popular Name: Strategic Fund
MI Comp L § 125.2052 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-5 - Chapter 5 (125.2051...125.2058)|Section 125.2052 - Loan Insurance Account; Payments Into Accounts; Transfer of Money.

125.2052 Loan insurance account; payments into accounts; transfer of money. Sec. 52.  (1) The center for loan insurance shall be funded by an account, which shall be established and managed by the fund, to be known as the loan insurance account.  (2) The fund shall pay into the account any money appropriated or otherwise provided by this state for the purposes of the center; any money determined by the fund to be paid into the account from the economic development fund to which the fund succeeded in ownership pursuant to section 22; any money which the fund receives as fees or premiums for its provision of loan, lease, or debenture insurance; loan, lease, or debenture guarantees; or letters of credit; and any other money made available to the fund for the purposes of the center from any other source, public or private.  (3) Money in the loan insurance account may be transferred into any other account established by the fund, unless the fund is otherwise obligated to retain the money in the loan insurance account or except if the money was appropriated by this state for the purposes of the center. History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund
MI Comp L § 125.2053 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-5 - Chapter 5 (125.2051...125.2058)|Section 125.2053 - Powers of Fund Through Center for Loan Insurance.

125.2053 Powers of fund through center for loan insurance. Sec. 53.  (1) The fund, through the center for loan insurance, may insure, guarantee, or issue letters of credit for all or a part of a loan or debenture of others, public or private.  (2) The fund, through the center for loan insurance, may insure, guarantee, or issue letters of credit for all or a part of a lease entered into by others, public or private.  (3) The fund, through the center for loan insurance, may procure insurance, a guarantee, or a letter of credit from any source for all or a part of a loan, debenture, or lease of others, public or private. The fund may procure insurance, a guarantee, or a letter of credit for either a single loan, debenture, or lease or for any combination of loans, debentures, or leases.  (4) The fund, through the center for loan insurance, may insure, guarantee, or issue letters of credit for all or a part of a revenue bond issued by the fund, another creature of the state, or by another entity or authority authorized by law to issue revenue bonds.  (5) The fund may procure insurance, a guarantee, or a letter of credit for all or a part of a revenue bond issue of the fund, another creature of the state, or by another entity or authority authorized by law to issue revenue bonds. The fund may procure insurance, a guarantee, or a letter of credit for either all or part of a single revenue bond issue or for all or a part of any combination of revenue bond issues. History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund
MI Comp L § 125.2054 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-5 - Chapter 5 (125.2051...125.2058)|Section 125.2054 - Contract of Insurance.

125.2054 Contract of insurance. Sec. 54.  To provide loan insurance pursuant to section 53, the fund may enter into a contract of insurance. The insurance code of 1956, Act No. 218 of the Public Acts of 1956, being sections 500.100 to 500.8302 of the Michigan Compiled Laws, shall not apply to such an insurance contract and the fund shall not be considered an insurer subject to the insurance code of 1956, Act No. 218 of the Public Acts of 1956, by virtue of entering into such a contract. History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund