reglab/statecodes huggingface dataset:
Michigan Administrative Code › Department - Treasury › Bureau of Local Government Services › State Tax Commission General Rules › Part 8 - AIR POLLUTION CONTROL EXEMPTION CERTIFICATE › Section R. 209.81 - Air pollution control exemption certificate

Current through Vol. 24-12, July 15, 2024
Rule 81.
(1) An
				  applicant shall apply for an air pollution control exemption certificate shall
				  be made on a form prescribed by and furnished by the commission. The applicant
				  shall file a complete application and required documents with the commission. A
				  preliminary review will be performed by staff. A complete air pollution
				  application shall be forwarded to the department of natural resources and
				  environment for review and they will make a recommendation of approval, partial
				  approval, or denial. An application, or portion of an application, shall not be
				  approved unless it meets the requirements of 1994 PA 451, MCL 324.5901 to
				  324.5908.
(2) A complete pollution
				  control applications requesting exemption for new improvements, amendments, or
				  transfers received through June 15 shall receive consideration and action by
				  the commission before December 31. An application received on or after June 16
				  shall be considered by the commission contingent up staff
				  availability.
(3) An owner of
				  facilities replacing equipment previously exempted under a pollution control
				  certificate may request the adjustment of costs by application to the
				  commission on or before October 31. Requests received on or after November 1
				  shall receive consideration and action by the commission contingent upon staff
				  availability.
(4) All objections to
				  the department of natural resources and environment application review must be
				  received in writing by the commission within 21 days of the date of the letter
				  informing the applicant and local unit of the recommendation of the department
				  of natural resources and environment. Written objections received after the
				  21-day period will be considered untimely filed.
(5) All requests of revocation for pollution
				  control certificates received through October 31 shall receive consideration
				  and action by the commission before December 31. A request of revocation
				  received on or after November 1 shall be considered by the commission
				  contingent upon staff availability.
Michigan Administrative Code › Department - Treasury › Bureau of Local Government Services › State Tax Commission General Rules › Part 9 - OBSOLETE PROPERTY REHABILITATION EXEMPTION CERTIFICATE › Section R. 209.91 - Obsolete property rehabilitation exemption certificate

Current through Vol. 24-12, July 15, 2024
Rule 91.
(1) An
				  applicant shall apply for obsolete property rehabilitation exemption
				  certificate on a form prescribed by and furnished by the commission. The
				  applicant shall file a complete application and any explanatory documents as
				  determined by the commission with the commission. A local legislative body
				  shall not approve an application unless it meets the requirements of 2000 PA
				  146, MCL 125.2781 to 125.2797.
(2)
				  All complete applications for obsolete property rehabilitation act exemption
				  received through October 31 shall receive consideration and action by the
				  commission before December 31. An application received on or after November 1
				  shall be considered by the commission contingent upon staff
				  availability.
(3) All obsolete
				  property rehabilitation act applications submitted to the commission must
				  include a statement from the assessor of the local unit indicating the type and
				  amount of obsolescence for the facility requesting consideration of
				  exemption.
(4) All obsolete
				  property rehabilitation act applications submitted to the commission must
				  indicate the prior year's actual taxable value. If the prior year's taxable
				  value was zero ($0) based on a prior year's tax exempt status, the local
				  governmental unit's assessor shall determine the property's prior year actual
				  taxable value as if the property had not been tax exempt. An obsolete property
				  rehabilitation exemption certificate will not be issued or frozen at a zero
				  taxable value that is the result of a prior year's tax exempt status.
(5) The commission shall not issue an
				  obsolete property rehabilitation exemption certificate for a property that is
				  already included on another specific tax roll. Property covered under an
				  obsolete property rehabilitation exemption certificate may not be included on
				  any other specific tax roll while receiving the obsolete property
				  rehabilitation act exemption.
Michigan Administrative Code › Department - Treasury › Bureau of Local Government Services › State Tax Commission General Rules › Part 10 - NEW PERSONAL PROPERTY EXEMPTION › Section R. 209.101 - New personal property exemption

Current through Vol. 24-12, July 15, 2024
Rule 101.
(1) An
				  applicant shall apply for new personal property tax exemption shall be made on
				  a form prescribed by and furnished by the commission. A complete application
				  and any explanatory documents as determined by the commission shall be filed
				  with the commission. A local legislative body shall not approve an application
				  unless it meets the requirements of 1998 PA 328, MCL 211.9f.
(2) An exemption for new personal property
				  issued by the commission shall relate to all new personal property placed
				  within the eligible district after the date of the resolution approved by the
				  local jurisdiction.
(3) A new
				  personal property exemption will not be issued for a property that is already
				  included on another specific tax roll. Property covered under a new personal
				  property exemption may not be included on any other specific tax roll while
				  receiving the new personal property exemption.
Michigan Administrative Code › Department - Treasury › Bureau of Local Government Services › State Tax Commission General Rules › Part 11 - COMMERCIAL REHABILITATION EXEMPTION CERTIFICATE › Section R. 209.111 - Commercial rehabilitation exemption certificate

Current through Vol. 24-12, July 15, 2024
Rule 111.
(1) An
				  applicant shall apply for commercial rehabilitation tax exemption certificates
				  on a form prescribed by and furnished by the commission. An applicant shall
				  file a complete application and any explanatory documents as determined by the
				  commission with the commission.
A local legislative body shall not approve an application
					 unless it meets the requirements of 2005 PA 210, MCL 207.841 to 207.856.
(2) All complete applications for
				  commercial rehabilitation exemption certificates received through October 31
				  shall receive consideration and action by the commission before December 31. An
				  application received on or after November 1 shall be considered by the
				  commission contingent upon staff availability.
(3) All commercial rehabilitation exemption
				  applications submitted to the commission must indicate the prior year's actual
				  taxable value. If the prior year's taxable value was zero ($0) based on a prior
				  year's tax exempt status, the local governmental unit's assessor shall
				  determine the property's prior year actual taxable value as if the property had
				  not been tax exempt. A commercial rehabilitation exemption certificate will not
				  be issued or frozen at a zero taxable value that is the result of a prior
				  year's tax exempt status.
(4) A
				  commercial rehabilitation exemption certificate will not be issued for a
				  property that is already included on another specific tax roll. Property
				  covered under a commercial rehabilitation exemption certificate may not be
				  included on any other specific tax roll while receiving the commercial
				  rehabilitation exemption.
Michigan Administrative Code › Department - Treasury › Bureau of Local Government Services › State Tax Commission General Rules › Part 12 - NEIGHBORHOOD ENTERPRISE ZONE EXEMPTION CERTIFICATE › Section R. 209.112 - Neighborhood enterprise zone exemption certificate

Current through Vol. 24-12, July 15, 2024
Rule 112.
(1) An
				  applicant shall apply for new or rehabilitation neighborhood enterprise zone
				  exemption certificates on a form prescribed by and furnished by the commission.
				  A complete new or rehabilitation application and any explanatory documents as
				  determined by the commission shall be filed with the commission. A local
				  legislative body shall not approve an application unless it meets the
				  requirements of 1992 PA 147, MCL 207.771 to 207.787.
(2) An application for homestead neighborhood
				  enterprise zone exemption certificates shall be made on a form prescribed by
				  and furnished by the commission. A complete homestead application and required
				  documents as determined by the commission shall be filed with the assessor of
				  the local governmental unit. A local legislative body shall not approve an
				  application unless it meets the requirements of 1992 PA 147, MCL 207.771 to
				  207.787.
(3) All complete
				  applications or requests of revocation for new or rehabilitation neighborhood
				  enterprise zone exemption certificates received through October 31 shall
				  receive consideration and action by the commission before December 31. An
				  application or request of revocation received on or after November 1 shall be
				  considered by the commission contingent upon staff availability.
(4) All rehabilitation neighborhood
				  enterprise zone exemption applications submitted to the commission must
				  indicate the prior year's actual taxable value. If the prior year's taxable
				  value was zero ($0) based on a prior year's tax exempt status, the local
				  governmental unit's assessor shall determine the property's prior year actual
				  taxable value as if the property had not been tax exempt. A rehabilitation
				  neighborhood enterprise zone exemption certificate will not be issued or frozen
				  at a zero taxable value that is the result of a prior year's tax exempt
				  status.
(5) A neighborhood
				  enterprise zone exemption certificate will not be issued for a property that is
				  already included on another specific tax roll. Property covered under a
				  neighborhood enterprise zone exemption certificate may not be included on any
				  other specific tax roll while receiving the neighborhood enterprise zone
				  exemption.
Michigan Administrative Code › Department - Treasury › Bureau of Local Government Services › State Tax Commission General Rules › Part 13 - COMMERCIAL FACILITIES EXEMPTION CERTIFICATE › Section R. 209.113 - Commercial facilities exemption certificate

Current through Vol. 24-12, July 15, 2024
Rule 113.
(1) An
				  applicant shall apply for commercial facilities exemption certificates on a
				  form prescribed by and furnished by the commission. An applicant shall file a
				  complete application and any explanatory documents as determined by the
				  commission with the clerk of the local governmental unit. A local legislative
				  body shall not approve an application unless it meets the requirements of 1978
				  PA 255, MCL 207.651 to 207.668.
(2)
				  The clerk of the local governmental unit shall file with the commission a copy
				  of the commercial facilities exemption certificate and the commission shall
				  maintain a record of all certificates filed.
(3) All commercial facilities exemption
				  applications submitted to the commission must indicate the prior year's actual
				  taxable value. If the prior year's taxable value was zero ($0) based on a prior
				  year's tax exempt status, the local governmental unit's assessor shall
				  determine the property's prior year actual taxable value as if the property had
				  not been tax exempt. A commercial facilities exemption certificate will not be
				  issued or frozen at a zero taxable value that is the result of a prior year's
				  tax exempt status.
(4) A commercial
				  facilities exemption certificate will not be issued for a property that is
				  already included on another specific tax roll. Property covered under a
				  commercial facilities exemption certificate may not be included on any other
				  specific tax roll while receiving the commercial facilities
				  exemption.
Michigan Administrative Code › Department - Treasury › Bureau of Local Government Services › State Tax Commission General Rules › Part 14 - TRAINING PROGRAMS AND EDUCATION › Section R. 209.114 - Education institution information

Current through Vol. 24-12, July 15, 2024
Rule 114.
(1) An
				  educational institution, organization, or individual who seeks to have an
				  assessor training program, course, or class approved shall submit a syllabus of
				  the program course or class to the commission.
(2) The syllabus shall include all of the
				  following information:
(a) An outline of the
				  course or classes offered.
(b) The
				  number of hours for each course.
(c) The instructor to be used.
(d) Reference and text material.
(e) Any other pertinent
				  information.
Michigan Administrative Code › Department - Treasury › Bureau of Local Government Services › State Tax Commission General Rules › Part 15 - RATING AND CERTIFICATION › Section R. 209.115 - Rating of assessing units

Current through Vol. 24-12, July 15, 2024
Rule 115. An assessing unit shall be rated as to the level
					 of certification that is required to assess or equalize the entire unit. An
					 individual may qualify at a level higher than the level assigned to his or her
					 unit. Ratings are subject to review and revision on an annual basis. Factors to
					 be considered by the commission include, but are not limited to, the
					 following:
(a) Total state equalized
				  value.
(b) Percentage of value for
				  all commercial and industrial properties.
(c) Assistance given the local unit by the
				  equalization department or state tax commission on special
				  properties.
(d) The equivalent
				  state equalized value of property taxed pursuant to 1974 PA 198, MCL 207.551,
				  and 1978 PA 255, MCL 207.651.
(e)
				  The number of residential and agricultural parcels in the local unit.
Michigan Administrative Code › Department - Treasury › Bureau of Local Government Services › State Tax Commission General Rules › Part 15 - RATING AND CERTIFICATION › Section R. 209.125 - Certification of individuals by level

Current through Vol. 24-12, July 15, 2024
Rule 125.
(1) An
				  application for certification of an individual shall be on the form prescribed
				  by the commission. The application form shall be accompanied by a fee that is
				  not refundable.
(2) An individual
				  shall be certified by examination. An individual must complete in order, all
				  levels of certification and meet all experience and education requirements as
				  determined by the commission. Notification of examination results shall be
				  provided pass/fail only.
(3) An
				  individual shall assess only the properties covered by his or her certification
				  level, unless conditional certification is granted by the commission.
(4) An individual assessing officer shall not
				  assess, in total, property with state equalized values in excess of that which
				  is annually determined to be the maximum equalized values, or in excess of
				  other factors determined by the commission to be the maximum, for their level
				  of certification.
Michigan Administrative Code › Department - Treasury › Bureau of Local Government Services › State Tax Commission General Rules › Part 15 - RATING AND CERTIFICATION › Section R. 209.135 - Certification of appraisal firm personnel

Current through Vol. 24-12, July 15, 2024
Rule 135. An appraisal firm or an individual doing business
					 in this state and employed to make appraisals for assessment purposes shall
					 employ a project supervisor who is certified at the level required of the
					 assessing unit. The certification level shall be equal to the highest
					 designated certification necessary for the units of government where the firm
					 or individual will be conducting business. This rule shall not apply to an
					 appraiser who is retained to prepare an appraisal for litigation
					 purposes.
Michigan Administrative Code › Department - Treasury › Bureau of Local Government Services › State Tax Commission General Rules › Part 15 - RATING AND CERTIFICATION › Section R. 209.145 - Renewal of certification

Current through Vol. 24-12, July 15, 2024
Rule 145.
(1) A
				  certification may be renewed upon making application, paying the required fee,
				  and providing evidence of attendance for the required number of hours of
				  continuing education. The commission will issue a bulletin annually in
				  accordance with MCL 211.150 and 209.104, which defines the number of continuing
				  education hours, and any policies regarding renewal of certification. Assessors
				  will be notified on their annual renewal application that this bulletin is
				  available on the state tax commission website or can be mailed to them upon
				  request. It is the responsibility of the certified individual to keep the
				  commission informed of his or her current mailing address. Failure to receive
				  notice by first-class mail does not nullify the annual requirement.
Michigan Administrative Code › Department - Treasury › Bureau of Local Government Services › State Tax Commission General Rules › Part 15 - RATING AND CERTIFICATION › Section R. 209.155 - Revocation or suspension of certification

Current through Vol. 24-12, July 15, 2024
Rule 155. A certification may be suspended or revoked for
					 malfeasance of duties imposed by law, misfeasance of duties imposed by law,
					 nonfeasance of duties imposed by law, falsification or plagiarism of an
					 examination or an appraisal report submitted to the commission by an applicant
					 or holder of a certification issued by the commission.
Michigan Administrative Code › Department - Treasury › Bureau of State and Authority Finance › School Bond Qualification, Approval, and Loan Rules › Part 1 - GENERAL DEFINITIONS › Section R. 388.1 - Definitions

Current through Vol. 24-12, July 15, 2024
Rule 1.
(1) As
				  used in these rules:
(a) "Act" means the
				  school bond qualification, approval, and loan act, 2005 PA 92, MCL 388.1921 to
				  388.1939.
(b) "Business day" means
				  any day that does not fall on a Saturday, Sunday, or state legal
				  holiday.
(c) "Calendar day" means
				  any day represented on the yearly calendar including Saturday, Sunday, and
				  state legal holidays.
(d) "Debt
				  service" means principal and interest payments on qualified bond issues and
				  associated fees related to those bonds.
(e) "Department" means the Michigan
				  department of treasury.
(f) "Pro
				  forma debt service projection" has the meaning associated with it in section 5
				  of the act.
(g) "Qualification"
				  means the process of qualifying bonds or loans in accordance with the
				  act.
(h) "Refunding bond" means a
				  bond issued to refund or refinance an existing qualified bond or outstanding
				  qualified loan owed to the state under this act.
(i) "Repayment mode" is the loan status given
				  to a school district whose annual tax collections exceed, or are projected in
				  the next succeeding year to exceed, its annual debt service on qualified bonds,
				  at which point the school district must begin repaying to the state its
				  outstanding qualified loan balances.
(j) "State legal holiday" means those days
				  designated in section
				  1 of 1865 PA 124,
				  MCL 435.101.
(k) "Treasurer" means
				  the Michigan state treasurer as defined by the act.
(l) All terms not defined in these rules have
				  the same meaning as when used in the act.
Michigan Administrative Code › Department - Treasury › Bureau of State and Authority Finance › School Bond Qualification, Approval, and Loan Rules › Part 2 - SCHOOL BOND QUALIFICATION › Section R. 388.2 - Preliminary qualification; application

Current through Vol. 24-12, July 15, 2024
Rule 2.
(1) A
				  completed preliminary qualification application shall include a submission to
				  the department that complies with section 5 of the act, MCL
				  388.1925
,
any other applicable law, and any other guidance
				  published by the department including, but not limited to, global instructions,
				  policies, procedures, guidelines
,
or rules. The application shall
				  include the following:
(a) The proposed ballot
				  language to be submitted to the electors shall include all language required by
				  the following statutes:
(i) Section 1361 of
				  the revised school code, 1976 PA 451, MCL 380.1361
(ii) Section 24f of the general property tax
				  act, 1893 PA 206, MCL 211.24f
(iii)
				  Section 8 of the act
,
MCL 388.1928.
(iv) Any other applicable law.
Michigan Administrative Code › Department - Treasury › Bureau of State and Authority Finance › School Bond Qualification, Approval, and Loan Rules › Part 2 - SCHOOL BOND QUALIFICATION › Section R. 388.3 - Qualification of bonds

Current through Vol. 24-12, July 15, 2024
Rule 3.
(1) To
				  obtain final qualification of bonds, a school district shall, along with
				  meeting any other requirements of section 7 of the act, MCL 388.1927, submit a
				  final qualification application and supporting documentation in the form
				  prescribed by the department.
(2)
				  Supporting documentation shall include all of the following:
(a) A cover letter from legal counsel
				  indicating the requested approval date and delivery date if known at the time
				  of submission.
(b) The certificate
				  of determination of election results and vote count approving the
				  bonds.
(c) An updated pro forma
				  debt service projection.
(d) A copy
				  of any adopted resolution authorizing the issuance of bonds.
(e) A copy of any resolution authorizing the
				  sale of bonds if such a resolution is applicable.
Michigan Administrative Code › Department - Treasury › Bureau of State and Authority Finance › School Bond Qualification, Approval, and Loan Rules › Part 2 - SCHOOL BOND QUALIFICATION › Section R. 388.4 - Debt service payment dates

Current through Vol. 24-12, July 15, 2024
Rule 4. Principal on qualified bonds shall be payable on
					 May 1 and/or November 1, as approved by the department, and interest on
					 qualified bonds shall be payable on May 1 and/or November 1, as approved by the
					 department.
Michigan Administrative Code › Department - Treasury › Bureau of State and Authority Finance › School Bond Qualification, Approval, and Loan Rules › Part 2 - SCHOOL BOND QUALIFICATION › Section R. 388.5 - Department guidance

Current through Vol. 24-12, July 15, 2024
Rule 5. The department may issue any other guidance
					 including, but not limited to, global instructions, policies, procedures, or
					 guidelines, in accordance with the act, these rules and, state law, as needed,
					 to assist school districts with completing prequalification and qualification
					 applications, and otherwise with complying with the act.
Michigan Administrative Code › Department - Treasury › Bureau of State and Authority Finance › School Bond Qualification, Approval, and Loan Rules › Part 3 - SCHOOL LOAN REVOLVING FUND LOANS › Section R. 388.8 - Annual loan activity application

Current through Vol. 24-12, July 15, 2024
Rule 8. A completed annual loan activity application shall
					 include submission to the department of all of the following:
(a) A cover transmittal letter.
(b) An annual loan activity application
				  consisting of a certified resolution in the form prescribed by the department
				  providing for all of the following:
(i)
				  Designation and authorization of a school district official to complete all
				  required and necessary documents related to the school loan revolving
				  fund.
(ii) Approval of the
				  estimated amount to be disbursed from or repaid to the school loan revolving
				  fund.
(iii) Certification of the
				  amount of qualified debt millage to be levied.
(iv) Agreement to take actions or refrain
				  from taking actions, as necessary, to maintain the tax-exempt status of any
				  bonds or notes issued by the state in accordance with the state constitution of
				  1963 or by the Michigan finance authority, or its successor, in accordance with
				  the act.
Michigan Administrative Code › Department - Treasury › Bureau of State and Authority Finance › School Bond Qualification, Approval, and Loan Rules › Part 3 - SCHOOL LOAN REVOLVING FUND LOANS › Section R. 388.9 - Worksheet/draw request; compliance with paying agent guidelines

Current through Vol. 24-12, July 15, 2024
Rule 9.
(1) A
				  completed draw request shall include submission to the department of all of the
				  following:
(a) A cover transmittal
				  letter.
(b) A worksheet/draw
				  request.
(c) Copies of reconciled
				  bank statements to support the debt fund balance reported on worksheet/draw
				  request.
(d) Any other
				  documentation and information necessary to determine the amount of the
				  disbursement.
Michigan Administrative Code › Department - Treasury › Bureau of State and Authority Finance › School Bond Qualification, Approval, and Loan Rules › Part 3 - SCHOOL LOAN REVOLVING FUND LOANS › Section R. 388.11 - Interest rates on qualified loans

Current through Vol. 24-12, July 15, 2024
Rule 11.
(1) All
				  qualified loans shall bear interest as defined in section 9(8) of the
				  act
,
MCL 388.1929.
(2)
				  The department shall recalculate the interest rate on all qualified loans at
				  least quarterly.
(3) Interest on
				  all qualified loans shall be compounded annually on September 30.
Michigan Administrative Code › Department - Treasury › Bureau of State and Authority Finance › School Bond Qualification, Approval, and Loan Rules › Part 3 - SCHOOL LOAN REVOLVING FUND LOANS › Section R. 388.12 - Repayment; invoices

Current through Vol. 24-12, July 15, 2024
Rule 12.
(1) The
				  department shall issue an invoice to the school district at least once a year
				  when the information contained in a loan activity statement demonstrates that
				  the revenue generated by a school district's levy of the computed millage will
				  exceed the annual debt service on the bonds.
(2) The school district shall remit the
				  amount specified in the invoice to the department not later than the next
				  succeeding May 15 after the dated date of the invoice.
(3) The school district shall promptly submit
				  to the department an explanation of any difference between the invoiced payment
				  due and the payment remitted.
Michigan Administrative Code › Department - Treasury › Bureau of State and Authority Finance › School Bond Qualification, Approval, and Loan Rules › Part 4 - NONCOMPLIANCE › Section R. 388.13 - Noncompliance; remedies

Current through Vol. 24-12, July 15, 2024
Rule 13.
(1) The
				  following situations constitute noncompliance:
(a) A school district that owes the state
				  loan repayments relating to qualified bonds fails to levy at least the computed
				  millage upon its taxable value for debt retirement purposes for qualified bonds
				  or qualified loans under the act.
(b) A school district fails to honor its
				  agreement to repay a qualified loan or any installment of a qualified
				  loan.
(c) A school district fails
				  to file or correctly file required documentation as defined in the act or these
				  rules.
Michigan Administrative Code › Department - Treasury › Bureau of State and Authority Finance › School Bond Qualification, Approval, and Loan Rules › Part 5 - REFUNDING R 388.14 Rescinded › Section R. 388.15 - Refunding bonds

Current through Vol. 24-12, July 15, 2024
Rule 15.
(1) Bonds
				  issued to refund qualified bonds or outstanding qualified loans shall comply
				  with the provisions of the act and the revised municipal finance act, 2001 PA
				  34, MCL 141.2101 to 141.2821.
(2)
				  The term of the refunding bond shall be no longer than the term of the original
				  bond issue being refunded.
(3)
				  Qualified bonds issued to refund outstanding qualified loans shall not be
				  issued for a term longer than the projected repayment term of the qualified
				  loans as of the date of the refunding.
(4) The department shall consider requests to
				  issue qualified refunding bonds to refund outstanding qualified loans, despite
				  the school districts current or prospective computed millage equaling a level
				  greater than the maximum levy permitted by law, and despite the school
				  districts current inability to comply with its final mandatory repayment date,
				  so long as the issuance of the qualified refunding bonds will not further
				  extend the school districts anticipated repayment date of its outstanding
				  qualified loan balance, will result in a savings, will improve the districts
				  projected qualified loan repayment date, and otherwise complies with the act
				  and these rules.
Michigan Administrative Code › Department - Treasury › Bureau of State and Authority Finance › School Bond Qualification, Approval, and Loan Rules › Part 6 - VARIABLE INTEREST RATE DEBT › Section R. 388.16 - Variable interest rate, interest rate exchange, swap, hedge, or similar agreements

Current through Vol. 24-12, July 15, 2024
Rule 16.
(1)
				  School districts using variable interest rate debt or entering into interest
				  rate exchanges, swaps, hedges or similar agreements shall do all of the
				  following:
(a) Maintain a minimum fund
				  balance within any applicable Internal Revenue Service regulations sufficient
				  to limit borrowing from the school loan revolving fund to the regularly
				  scheduled May and November borrowings.
(b) Provide supplemental schedules with
				  current estimates of debt service payments projected for the upcoming year
				  along with the submission of the annual loan activity application.
(c) Provide written notification to the
				  department if changes are made to the indenture documents. If the department
				  does not respond in writing within 30 days after receipt of the notification,
				  then the parties may proceed with the transaction.
Michigan Administrative Code › Department - Treasury › Bureau of State and Authority Finance › School Bond Qualification, Approval, and Loan Rules › Part 7 - TIME COMPUTATION › Section R. 388.17 - Business and calendar days

Current through Vol. 24-12, July 15, 2024
Rule 17.
(1)
				  Unless otherwise required by these rules, when the act, these rules, or any
				  other guidance published by the department including, but not limited to,
				  global instructions, policies, procedures, or guidelines refer to time periods
				  of 7 days or less, it shall mean business days. Time periods greater than 7
				  days, shall mean calendar days.
(2)
				  Pursuant to MCL 211.24f(2)(b), "year" means the 12 succeeding months starting
				  upon and including the first anticipated levy.
Michigan Administrative Code › Department - Treasury › Bureau of State and Authority Finance › School Bond Qualification, Approval, and Loan Rules › Part 8 - APPEALS › Section R. 388.18 - Appeals

Current through Vol. 24-12, July 15, 2024
Rule 18.
(1) A
				  school district may appeal a decision of a designated representative of the
				  department to the state treasurer or his or her program designee directly by
				  submitting a written request for reconsideration by the state treasurer
				  detailing the grounds, legal or otherwise, for the request within 30 calendar
				  days of the decision.
(2) The
				  appeal must clearly state its nature as an appeal pursuant to this rule and
				  must clearly identify which decision is being appealed and the rationale for
				  reconsideration.
(3) A school
				  district may request an appeal conference with the department as part of its
				  request for reconsideration, where it can present and discuss materials
				  supporting its request. Such a conference shall be scheduled within 15 days of
				  receipt of the request.
(4) The
				  state treasurer or his or her program designee shall issue a final
				  determination in writing within 30 calendar days of receipt of the appeal
				  request, or after an appeal conference is held, whichever is later.
(5) Decisions of the state treasurer or his
				  or her program designee are final.
Michigan Administrative Code › Department - Treasury › Bureau of State and Authority Finance › School Bond Qualification, Approval, and Loan Rules › Part 9 - ANNUAL COMPUTED MILLAGE WAIVER › Section R. 388.19 - Annual computed millage waiver requests

Current through Vol. 24-12, July 15, 2024
Rule 19.
(1) The
				  department shall consider waiver requests to levy a recalculated computed
				  millage that is less than the computed millage stated on the applicants most
				  recent order qualifying bonds, but that is not lower than the computed millage
				  rate noted on the applicants current loan agreement in effect at the time of
				  the request. For school districts that have issued refunding bonds subsequent
				  to entering into a loan agreement, there may be a higher computed millage rate
				  reflected on the most recent order qualifying bonds than on the loan
				  agreement.
(2) Subject to subrule
				  (3) of this rule, such waivers must be requested annually prior to June 1 each
				  year and may be granted if all of the following statutory conditions are met:
(a) The school board of the school district
				  has applied to the state treasurer for permission to levy a recalculated
				  computed millage as described in subrule (1) of this rule.
(b) The application specifies the number of
				  mills the school district requests permission to levy which shall be equal to
				  the recalculated computed millage.
(c) The waiver will be financially beneficial
				  to this state, the school district, or both. It is presumed that the
				  recalculated computed millage, despite being lower than the computed millage
				  reflected on the applicants most recent order qualifying bonds, but not lower
				  than the computed millage rate reflected on the applicants current loan
				  agreement in effect at the time of the request, meets this condition.
(d) The waiver will not reduce the millage
				  levied by the school district to pay principal and interest on qualified bonds
				  and/or qualified loans under the act to less than 7 mills.
(e) The board of the school district, by
				  resolution, will agree to comply with all conditions that the state treasurer
				  has specified in the waiver. Any conditions are anticipated to be only those
				  needed to address any unforeseeable circumstances unique to and presented by
				  individual school districts. The departments approach to those circumstances
				  will be uniform to the extent possible.
Michigan Administrative Code › Department - Treasury › Bureau of State and Authority Finance › School Bond Qualification, Approval, and Loan Rules › Part 11 - FINAL YEAR OF REPAYMENT › Section R. 388.21 - Computed millage exception for qualified bonds and qualified loans in final year of repayment

Current through Vol. 24-12, July 15, 2024
Rule 21. If a school district with an outstanding qualified
					 loan balance can demonstrate to the satisfaction of the department that
					 repayment in full of the outstanding qualified loan balance will be achieved in
					 the school districts next fiscal year by levying a millage that is less than 7
					 mills, or less than the computed millage stated on the school districts most
					 recent order qualifying bonds or loan agreement, then the department shall not
					 object to the school district certifying a levy for that supported lesser
					 millage amount.
Michigan Administrative Code › Department - Treasury › Bureau of State and Authority Finance › School Bond Qualification, Approval, and Loan Rules › Part 12 - EXTENSION OF FINAL MANDATORY REPAYMENT DATE › Section R. 388.22 - Permissive mandatory repayment date extensions

Current through Vol. 24-12, July 15, 2024
Rule 22.
(1) As
				  permitted by the act, these rules, or any other guidance published by the
				  department including, but not limited to, global instructions, policies,
				  procedures, or guidelines, a school district may request approval from the
				  treasurer for a later final mandatory repayment date.
(2) Requests may be granted only if the
				  following conditions are met:
(a) The school
				  district agrees to levy a higher millage, at a minimum of 2 mills, and as
				  approved by the treasurer, subject to any maximum millage provided by
				  law.
(b) The school district agrees
				  to levy the higher millage described in subdivision (a) of this subrule for so
				  long as the extended final mandatory repayment remains applicable.
(c) The school district agrees to revert back
				  to the original mandatory repayment date if and when projections support that
				  action.
(d) At the time of the
				  request, the school district is at or within 15 years of its mandatory
				  repayment date.
(e) At the time of
				  the request, the school district has not previously requested such an extension
				  for the final mandatory repayment date stated in its current loan
				  agreement.
(f) The extension is
				  necessary for the school district to receive preliminary or final qualification
				  of a new money bond issue.
(g) The
				  school district will enter repayment mode upon completion of the bond issuance
				  described in subdivision (f) of this subrule.
(h) The final mandatory repayment date is not
				  extended by more than 3 years.
Michigan Administrative Code › Department - Treasury › Bureau of State Lottery › Lottery Rules › Section R. 432.1 - Definitions

Current through Vol. 24-12, July 15, 2024
Rule 1.
(1) As used
				in these rules:
(a) "Act" means 1972 PA 239,
				MCL 432.1 et seq.
(b) "Retailer"
				means a person who has been licensed to sell lottery tickets under the act and
				is referenced in the act as an agent.
(c) "Terminal" means an on-line lottery game
				terminal.
(d) "Ticket" means a
				lottery ticket, share, or interest issued by the bureau for sale to the general
				public.
Michigan Administrative Code › Department - Treasury › Bureau of State Lottery › Lottery Rules › Section R. 432.2 - Employees and contractors

Current through Vol. 24-12, July 15, 2024
Rule 2.
(1) None of
				the individuals referred to in section 31 of the act may have any interest,
				direct or indirect, in dealing in the lottery or in the ownership or leasing of
				any property or premises used by or for the lottery.
(2) An individual or organization or
				employees of an organization under contract with the bureau is not eligible to
				win any prize in any lottery operated by the bureau during the period of the
				contract if the individual, organization, or employee has access to any of the
				following that is not open to the general public:
(a) Bureau data.
(b) Books and records.
(c) Electronic data processing
				programs.
(d) Systems
				designs.
(e) Other
				information.
Michigan Administrative Code › Department - Treasury › Bureau of State Lottery › Lottery Rules › Section R. 432.3 - License eligibility; application

Current through Vol. 24-12, July 15, 2024
Rule 3.
(1) In
				addition to the requirements of section 23 of the act, the commissioner shall
				consider the following additional factors in determining the eligibility of any
				prospective licensee or renewal of a license as a retailer:
(a) The honesty and integrity of the
				applicant.
(b) The veracity of the
				information supplied in the application for lottery retailer's
				license.
(c) The applicant's
				indebtedness to the state or any local government.
(d) The business experience and general
				fitness of the applicant.
Michigan Administrative Code › Department - Treasury › Bureau of State Lottery › Lottery Rules › Section R. 432.4 - License revocation

Current through Vol. 24-12, July 15, 2024
Rule 4.
(1) A
				license is evidence of an agency that is revocable at will by either the bureau
				or the retailer. Revocation of the agency is effective 30 days after notice of
				the revocation has been mailed by the revoking party.
On or before the thirtieth day following notice of
				  revocation, a retailer shall surrender the license to the bureau.
(2) The bureau may immediately
				suspend, revoke, or not renew a retailer's license for any of the following
				reasons:
(a) The retailer's application for a
				license contains false or misleading information.
(b) The retailer violates any of the
				provisions of the act, these rules, or instructions and directives of the
				commissioner or bureau.
(c) The
				retailer's business location is changed.
(d) The retailer commits any act that
				seriously impairs his or her reputation for honesty and integrity.
(e) The retailer does not display lottery
				point of sale material in a manner that can be readily seen by the public or
				fails to make handout materials readily available to the public.
(f) The retailer is delinquent in making
				required accounting or fails to pay promptly all moneys owed the
				state.
(g) The retailer has been
				convicted of a crime other than a traffic offense.
(h) The retailer has been arrested for
				bookmaking or other forms of illegal gambling, whether or not convicted of
				bookmaking or other form of illegal gambling in a court of law.
(i) The retailer has been found guilty of any
				fraud or misrepresentation.
(j)
				There is reasonable cause to believe that the retailer is engaged in fraud,
				misrepresentation, or illegal gaming.
(k) The retailer fails to take reasonable
				security precautions with regard to the handling of lottery tickets and other
				materials.
(l) The commissioner
				finds that the retailer's experience, character, and general fitness are such
				that his or her participation as a retailer is inconsistent with the public
				interest, convenience, and necessity.
(m) Any other reason within the permissible
				discretion of the commissioner.
Michigan Administrative Code › Department - Treasury › Bureau of State Lottery › Lottery Rules › Section R. 432.5 - License fee

Current through Vol. 24-12, July 15, 2024
Rule 5.
(1) The
				commissioner shall determine the fee for a license as a retailer. The fee is
				payable at the time of license application.
(2) The bureau may charge a license renewal
				fee annually in an amount determined by the commissioner.
(3) The fees in subrules (1) and (2) of this
				rule shall not exceed the actual cost to the bureau.
Michigan Administrative Code › Department - Treasury › Bureau of State Lottery › Lottery Rules › Section R. 432.6 - Conditions of licensing

Current through Vol. 24-12, July 15, 2024
Rule 6.
(1)  Upon
				issuance of a license, the agent shall agree that he or she will do all of the
				following:
(a) Be bound by and comply with
				the act, these rules, and instructions and directives of the commissioner or
				bureau.
(b) Make tickets available
				for sale to the public during normal business hours.
(c) Not purchase any winning ticket from its
				original purchaser or from subsequent purchasers.
(d) Maintain authorized displays, notions,
				drop boxes, and other material used in conjunction with sales in accordance
				with instructions issued by the bureau.
(e) Act in a fiduciary capacity with respect
				to all tickets accepted from the bureau or its authorized distributors until
				payment has been made.
(f) Maintain
				current and accurate records of all operations in conjunction with sales in
				conformity with rules, instructions, and directives of the bureau. The agent
				shall make the records available to representatives of the bureau upon request
				for inspection and audit.
(g)
				Ensure that a person under 18 years of age does not sell tickets or pay winning
				tickets.
(h) Ensure that tickets
				will not be sold at any price greater than the price stated on the
				ticket.
(i) Hold the bureau and the
				state harmless from any liability arising in connection with sales.
(j) Remit funds due for lottery sales and
				other amounts owing to the bureau at the time and in the manner specified by
				the bureau.
(k) Validate all
				winning tickets through the bureau gaming system and pay customers the full
				prize value of validated winning tickets up to the retailers cashing limit as
				determined by the commissioner.
Michigan Administrative Code › Department - Treasury › Bureau of State Lottery › Lottery Rules › Section R. 432.7 - Nontransferability of license

Current through Vol. 24-12, July 15, 2024
Rule 7. A license is not assignable or transferable. The
				  commissioner shall be notified, in writing, not less than 20 days before any
				  proposed business change or substantial change in ownership of the business.
				  A
substantial change in ownership under this rule means a
				  transfer of 50% or more of the equity of any business licensed under these
				  rules. If the business to which a license is issued changes its business
				  location, then the owner shall submit an application for a license. An owner
				  shall report every change of business location, in writing, to the commissioner
				  not less than 20 days before the change.
Michigan Administrative Code › Department - Treasury › Bureau of State Lottery › Lottery Rules › Section R. 432.8 - Bonding of retailer

Current through Vol. 24-12, July 15, 2024
Rule 8. The bureau may require a bond as specified by the
				  commissioner from any retailer in an amount the bureau determines will prevent
				  any monetary loss to the state because of a retailer's activities in the sale
				  of tickets. The bond is a condition of becoming or continuing as a retailer.
				  The bureau may require a financial statement revealing the financial condition
				  of any person or organization seeking to become or continue as a
				  retailer.
Michigan Administrative Code › Department - Treasury › Bureau of State Lottery › Lottery Rules › Section R. 432.9 - License expiration and renewal

Current through Vol. 24-12, July 15, 2024
Rule 9. A retailer's license remains in full force and effect
				  until the termination date indicated upon the license, but in no case more than
				  1 year from the date of issuance of the license. The license may be terminated
				  before the expiration date by the commissioner in accordance with these
				  rules.
Michigan Administrative Code › Department - Treasury › Bureau of State Lottery › Lottery Rules › Section R. 432.10 - Special licenses

Current through Vol. 24-12, July 15, 2024
Rule 10.
(1) A
				special license may be issued subject to such special conditions or limitations
				as the commissioner deems prudent and determines to be consonant with the
				dignity of the state, the general welfare of the people and the dignity and
				integrity of the bureau. These limitations or conditions include, but are not
				limited to, the following:
(a) License
				period.
(b) Hours or days of
				sale.
(c) Location of
				sale.
(d) Specific business or
				organization which may sell tickets.
(e) Specific sporting, charitable, social, or
				other special events where lottery tickets may be sold.
(f) Special selling or dispensing
				methods.