MICHIGAN BUSINESS INCUBATION ACT (EXCERPT)
Act 198 of 1984
125.1584 Administration of state funding.
(1) The department shall administer state funding for the centers it designates.
(2) During the first 3 years of operation, the department shall provide funding for any designated center up to 50% of the costs of establishment and maintenance that are not covered by rental fees. The department shall not provide any state funding to a center after the center's first 3 years of operation. As used in this subsection, “costs of establishment” means the actual cost of leasing the center or the actual cost of acquisition of the center prorated over a period of not less than 15 years.
History: 1984, Act 198, Imd. Eff. July 3, 1984
© 2017 Legislative Council, State of Michigan