MCL - Act 549 of 2008


Act 549 of 2008

AN ACT to authorize the creation of promise zones; to authorize the creation of promise zone authorities and the implementation of promise zone development plans; to prescribe the powers and duties of promise zone authorities; to provide for the capture and disbursement of certain tax revenue; and to prescribe powers and duties of certain state and local officials.

History: 2008, Act 549, Imd. Eff. Jan. 13, 2009 ;-- Am. 2016, Act 9, Imd. Eff. Feb. 16, 2016

The People of the State of Michigan enact:
Document Type Description
Section 390.1661 Section Short title.
Section 390.1663 Section Definitions.
Section 390.1664 Section Promise zone; establishment by governing body; resolution; public hearing; application; review by department of treasury; determination of eligibility; certification; approval of resolution; election by local school district; establishment of separate promise zone by local school district; dissolution.
Section 390.1664a Section Ineligible entity; revenue capture from state education tax.
Section 390.1665 Section Promise zone authority; creation; authority as public body corporate; powers; board; oath; proceedings and rules subject to open meetings act; removal of board member; writings subject to the freedom of information act.
Section 390.1667 Section Promise zone development plan; provisions; funding for out-of-state postsecondary institution prohibited; submission of plan or amendments to department of treasury; failure to submit plan within certain time frame; review; approval or written notice of deficiencies; amendment.
Section 390.1669 Section Cause of action not created.
Section 390.1671 Section Director; powers and duties; acting director; treasurer; secretary; legal counsel; other personnel; deposit of money; administrative costs; limitation; submission of audited financial statements; certification of compliance.
Section 390.1673 Section Board; powers.
Section 390.1675 Section Budget.
Section 390.1677 Section Capture of state education tax; determination of base year; payments.
Section 390.1679 Section Department of treasury; assumption of operational control; dissolution; resolution; use of remaining property and assets.