reglab/housing_qa huggingface dataset:
MI Comp L § 125.2081 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-8 - Chapter 8 (125.2081...125.2087)|Section 125.2081 - “Economic Development Fund” Defined.

125.2081 “Economic development fund” defined. Sec. 81.  As used in this chapter, "economic development fund" means that fund to which the fund succeeded in ownership pursuant to section 22. 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 § 125.2082 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-8 - Chapter 8 (125.2081...125.2087)|Section 125.2082 - Center for Product Development; Establishment and Operation.

125.2082 Center for product development; establishment and operation. Sec. 82.  The fund shall establish and operate a center for product development. 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 § 125.2083 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-8 - Chapter 8 (125.2081...125.2087)|Section 125.2083 - Product Development Program Account; Payments Into Account; Transfer or Deposit of Money.

125.2083 Product development program account; payments into account; transfer or deposit of money. Sec. 83.  (1) The center for product development shall be funded by an account, which shall be established and managed by the fund, to be known as the product development program account.  (2) The fund shall pay into the account any money appropriated or otherwise provided by this state for the purposes of the center for product development; any money determined by the fund to be paid into the account from the economic development fund; any money which the fund receives in return for investments made through the center for product development; 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 product development program account may be transferred into any other account established by the fund unless the fund is otherwise obligated to retain the money in the product development program account or except if the money was appropriated by this state for the purposes of the center or represents interest earned from these appropriations while on deposit in the account. The fund may deposit money earned by the fund from royalties, rights, or other benefits pursuant to section 84 or 86a in any account established by the fund. History: 1984, Act 270, Eff. Mar. 29, 1985 ;-- Am. 1987, Act 278, Imd. Eff. Jan. 6, 1988 Popular Name: Strategic Fund
MI Comp L § 125.2084 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-8 - Chapter 8 (125.2081...125.2087)|Section 125.2084 - Product Development Program Account; Utilization of Money; Purpose; Terms and Conditions of Financial Aid; Condition to Financial Aid.

125.2084 Product development program account; utilization of money; purpose; terms and conditions of financial aid; condition to financial aid. Sec. 84.  (1) The fund may utilize the money held in the product development program account to provide financial aid to applicants when financial aid would not otherwise be available on reasonable terms from other sources and shall enter into venture agreements whereby the fund will obtain royalties, rights, or other benefits from or in a targeted invention, product, device, or technique; a related or derivative invention, product, device, or technique; or other applicant revenues, which royalties, rights, and other benefits are obtained in exchange for the granting of financial aid to the applicant.  (2) Financial aid provided from the product development program account shall be for the purpose of financing any new process, technique, product, or device which is or may be exploitable commercially, which has advanced beyond the theoretical state, and which is capable of being or has been reduced to practice without regard to whether a patent has or could be granted.  (3) Financial aid provided and venture agreements made by the fund may be on the terms and conditions the fund, in its sole discretion, determines to be reasonable, appropriate, and consistent with the purposes and objectives of the fund and this chapter, including the requirements of section 12.  (4) Financial aid provided and venture agreements made pursuant to this section shall be made on the condition that the benefits of increasing employment and tax revenues remain in the 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 § 125.2085 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-8 - Chapter 8 (125.2081...125.2087)|Section 125.2085 - Recipients of Financial Aid.

125.2085 Recipients of financial aid. Sec. 85.  Financial aid provided from the product development program account may be made to any individual, partnership, profit or nonprofit corporation, college or university, or joint venture carrying on business or proposing to carry on business within this state. History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund
MI Comp L § 125.2086 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-8 - Chapter 8 (125.2081...125.2087)|Section 125.2086 - Amount of Financial Aid and Terms of Venture Agreement; Evaluation and Examination.

125.2086 Amount of financial aid and terms of venture agreement; evaluation and examination. Sec. 86.  In determining the amount of financial aid to be awarded and the terms of the venture agreement, the fund shall evaluate, among other things, the necessity of fund participation in the enterprise, the diversity of products and types of business concerns for which the fund has provided financial aid under this chapter, the availability of funding sources on reasonable terms in the traditional capital markets, the management structure and expertise of the enterprise, the state of development of the proposed product, process, technique, or device and the likelihood of its commercial feasibility, and the report and recommendations of the advisory panel created pursuant to section 87. The fund shall also examine, in determining the manner and extent of its participation, the extent to which the enterprise has a cooperative arrangement with a college or university in this state. History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund
MI Comp L § 125.2086a (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-8 - Chapter 8 (125.2081...125.2087)|Section 125.2086a - Financial Aid to Nonprofit Corporation; Powers and Duties of Corporation; Fund as Party to Venture Agreement; Provisions of Venture Agreement.

125.2086a Financial aid to nonprofit corporation; powers and duties of corporation; fund as party to venture agreement; provisions of venture agreement. Sec. 86a.  (1) The fund may provide financial aid to a nonprofit corporation which has as its only purposes the same purposes as this chapter. Except as provided in subsection (2), a corporation receiving financial aid under this section has the same powers and duties provided in this chapter.  (2) The fund shall be made a party to a venture agreement made by a corporation receiving financial aid under this section. The venture agreement shall provide that the fund obtain royalties, rights, or other benefits from or in a targeted invention, product, device, or technique; a related or derivative invention, product, device, or technique; or other applicant revenues, which royalties, rights, or other benefits are obtained by the corporation in exchange for the granting of financial aid to an applicant. History: 1984, Act 270, Eff. Mar. 29, 1985 ;-- Am. 1987, Act 278, Imd. Eff. Jan. 6, 1988 Popular Name: Strategic Fund
MI Comp L § 125.2087 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-8 - Chapter 8 (125.2081...125.2087)|Section 125.2087 - Advisory Panel; Purpose; Membership; Report; Recommendation.

125.2087 Advisory panel; purpose; membership; report; recommendation. Sec. 87.  An advisory panel shall be convened by the fund to consider proposals for venture agreements and financial aid from the product development program account. The panel shall be composed of 5 members appointed by the fund having skills and experience in providing capital to innovative business, in starting and operating such businesses, or in providing professional and technical services to or otherwise working with such businesses. The advisory panel shall report to the fund its analysis and recommendations on the proposal for financial aid and a venture agreement. History: 1984, Act 270, Eff. Mar. 29, 1985 Popular Name: Strategic Fund
MI Comp L § 125.2088 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-8A - Chapter 8a (125.2088...125.2088r)|Section 125.2088 - Legislative Findings; Intent; Scope of Activities.

125.2088 Legislative findings; intent; scope of activities.Sec. 88.  (1) The legislature finds and declares that the activities authorized under this chapter to encourage diversification of the economy 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 the 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. 2005, Act 225, Imd. Eff. Nov. 21, 2005 Popular Name: Strategic Fund
MI Comp L § 125.2088e (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-8A - Chapter 8a (125.2088...125.2088r)|Section 125.2088e - Private Equity Investment Program.

125.2088e Private equity investment program.Sec. 88e.  When creating programs for 21st century investments under this chapter, the fund shall create and operate a private equity investment program. The fund board shall authorize investments only in or alongside a qualified private equity fund. The private equity investment program shall do all of the following:  (a) Provide that the return on investment that is sought is greater than the return on investment under the commercial loan portion of the loan enhancement program to reflect the greater risk.  (b) Provide that the qualified private equity fund will have an amount at risk greater than the fund's investment.  (c) Provide that a qualified private equity fund is not eligible to participate in a private equity investment program unless it operates a business development office in this state staffed with at least 1 full-time equivalent employee who is actively seeking opportunities for investments in businesses located in this state unless the investment opportunity requested by the qualified private equity fund is targeted to a specific transaction that will save jobs and will not occur without the fund's investment as determined by the fund board.  (d) Provide that a qualified private equity fund is not eligible to participate in a private equity investment program unless it agrees to make investments in this state at a percentage rate that is not less than the percentage rate that the fund's investment in the qualified private equity fund bears to the total amount in the qualified private equity fund.  (e) Provide that a qualified private equity fund is not eligible to participate in a private equity investment program if its investment strategy provides for the breakup and liquidation of businesses. The fund board shall make sure that the agreements with a private equity fund have the appropriate provisions to prohibit the actions described in this subdivision. History: Add. 2005, Act 225, Imd. Eff. Nov. 21, 2005 Popular Name: Strategic Fund
MI Comp L § 125.2088g (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-8A - Chapter 8a (125.2088...125.2088r)|Section 125.2088g - Mezzanine Investment Program.

125.2088g Mezzanine investment program.Sec. 88g.  When creating programs for 21st century investments under this chapter, the fund shall create and operate a mezzanine investment program. The fund board shall authorize investments in or alongside a qualified mezzanine fund under a mezzanine investment program providing for all of the following:  (a) That the return on investment that is sought is greater than the return on investment under the commercial loan portion of the loan enhancement program to reflect the greater risk.  (b) That the qualified mezzanine fund will have an amount at risk greater than the fund's investment.  (c) That a qualified mezzanine fund is not eligible to participate in a mezzanine investment program unless it operates a business development office in this state staffed with at least 1 full-time equivalent employee who is actively seeking opportunities for mezzanine investments in businesses located in this state.  (d) That a qualified mezzanine fund is not eligible to participate in a mezzanine investment program unless it agrees to make mezzanine investments in this state at a percentage rate that is not less than the percentage rate that the fund's investment in the qualified mezzanine fund bears to the total amount in the qualified mezzanine fund.  (e) That a qualified mezzanine fund is not eligible to participate in a mezzanine investment program if its investment strategy provides for the breakup and liquidation of businesses. The fund board shall make sure that the agreements with a qualified mezzanine fund have the appropriate provisions to prohibit the actions described in this subdivision. History: Add. 2005, Act 225, Imd. Eff. Nov. 21, 2005 Popular Name: Strategic Fund
MI Comp L § 125.2088n (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-8A - Chapter 8a (125.2088...125.2088r)|Section 125.2088n - Access to Books and Records by Auditor General; Separate Audit; Requirement That Recipient Provide Information Necessary for Production of Reports.

125.2088n Access to books and records by auditor general; separate audit; requirement that recipient provide information necessary for production of reports.Sec. 88n.  (1) All contracts approved by the fund for 21st century investments and all contracts approved by the commercialization board or fund board for grants or loans under this chapter shall contain a provision that the auditor general has access to the books and records, including financial records and all other information and data relevant to the terms of the contract related to the use of the grant, loan, or 21st century investment.  (2) If the fund board or the commercialization board has a reasonable belief that a breach of contract has occurred, the fund has the right to have the recipient's annual financial statements separately audited by an independent certified public accountant at its sole cost and expense. If the audit reveals that a breach of contract has occurred, the recipient shall reimburse the fund for the fees and expenses incurred to perform the audit.  (3) As a condition of receiving funding under this chapter, the fund shall require a recipient to agree to provide to the fund the information necessary for the fund to produce the reports required under this section. History: Add. 2005, Act 215, Imd. Eff. Nov. 21, 2005 ;-- Am. 2014, Act 453, Eff. Jan. 14, 2015 Compiler's Notes: For transfer of powers and duties of strategic economic investment and commercialization board to Michigan strategic fund board, see E.R.O. No. 2010-4, compiled at MCL 125.1993.Popular Name: Strategic Fund
MI Comp L § 125.2088o (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-8A - Chapter 8a (125.2088...125.2088r)|Section 125.2088o - Technology Transfer Acceleration Program.

125.2088o Technology transfer acceleration program.Sec. 88o.  The fund shall create and operate a program to accelerate technology transfer from Michigan's institutions of higher education to the private sector for commercialization of competitive edge technologies and bioeconomy technologies. The technology transfer acceleration program shall include all of the following:  (a) Encourage and work with the state's public universities to identify the commercial potential in advanced technologies from individual institutions of higher education.  (b) Facilitate the bundling of inventions from individual institutions of higher education into packages that could be of interest to private sector firms looking for commercialization opportunities.  (c) Encourage business formation efforts in institution of higher education technology transfer offices to increase the number of institution of higher education related start-up companies.  (d) Work with institutions of higher education in encouraging the institutions to provide their faculty with incentives for participating in technology transfer and commercialization activities.  (e) Facilitate the use of the applied research expertise within institutions of higher education by qualified businesses. History: Add. 2005, Act 215, Imd. Eff. Nov. 21, 2005 ;-- Am. 2008, Act 367, Imd. Eff. Dec. 23, 2008 Popular Name: Strategic Fund
MI Comp L § 125.2089 (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-8B - Chapter 8b (125.2089...125.2089d)|Section 125.2089 - Legislative Findings; Intent; Scope of Activities.

125.2089 Legislative findings; intent; scope of activities.Sec. 89.  (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 the 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. 2008, Act 100, Imd. Eff. Apr. 18, 2008 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 § 125.2089a (2021)
2021 Michigan Compiled Laws|Chapter 125 - Planning, Housing, and Zoning|Act 270 of 1984 - Michigan Strategic Fund Act (125.2001 - 125.2094)|270-1984-8B - Chapter 8b (125.2089...125.2089d)|Section 125.2089a - Michigan Promotion Program; Establishment; Tourism Promotion Explained; Funding; Use of Appropriation Provided From 21st Century Jobs Trust Fund.

125.2089a Michigan promotion program; establishment; tourism promotion explained; funding; use of appropriation provided from 21st century jobs trust fund.Sec. 89a.  (1) The board shall establish a Michigan promotion program to promote tourism in Michigan and pay business development and marketing costs to promote business development in Michigan. Tourism promotion shall include, but is not limited to, cultural, vacation, recreational, leisure, hunting-related, motor sports entertainment-related, and agriculture-related travel across this state that includes activities that promote tourism in all 4 seasons.  (2) The funding provided under this chapter for tourism promotion is intended to enhance funding beyond that included in the annual appropriation for travel Michigan to attract additional tourism expenditures and development of the tourism industry in this state.  (3) Not more than 4% of the annual appropriation as provided by law from the 21st century jobs trust fund established in the Michigan trust fund act, 2000 PA 489, MCL 12.251 to 12.260, may be used for the purpose of administering the program authorized under this chapter. History: Add. 2008, Act 100, Imd. Eff. Apr. 18, 2008 Popular Name: Strategic Fund