Bill Text: MI HB4551 | 2009-2010 | 95th Legislature | Engrossed

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Bill Title: Economic development; other; grant or tax incentives created in the corporate responsibility act; require to comply in the transportation economic development fund provision. Amends sec. 9 of 1987 PA 231 (MCL 247.909).

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-04-14 - Referred To Committee On Finance [HB4551 Detail]

Download: Michigan-2009-HB4551-Engrossed.html

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HB-4551, As Passed House, March 25, 2010

 

 

 

 

 

 

 

 

 

 

 

SUBSTITUTE FOR

 

HOUSE BILL NO. 4551

 

 

 

 

 

 

 

 

 

 

 

 

     A bill to amend 1987 PA 231, entitled

 

"An act to create a transportation economic development fund in the

state treasury; to prescribe the uses of and distributions from

this fund; to create the office of economic development and to

prescribe its powers and duties; to prescribe the powers and duties

of the state transportation department, state transportation

commission, and certain other bodies; and to permit the issuance of

certain bonds,"

 

by amending section 9 (MCL 247.909), as amended by 1993 PA 149.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 9. (1) A project shall relate to 1 or more of the

 

following categories:

 

     (a) Economic development road projects in any of the following

 

targeted industries:

 

     (i) Agriculture or food processing.

 

     (ii) Tourism.

 

     (iii) Forestry.

 

     (iv) High technology research.

 

     (v) Manufacturing.

 

     (vi) Mining.

 

     (vii) Office centers of not less than 50,000 square feet.

 

     (c) Projects for reducing congestion on county primary and

 

city major streets within urban counties including advanced traffic

 

management systems.

 

     (d) Development projects for the improvement of rural primary

 

roads in rural counties and major streets in cities and villages

 

with a population of 5,000 or less.

 

     (e) Projects for development within rural counties on county

 

rural primary roads or major streets within incorporated villages

 

and cities with a population of less than 5,000.

 

     (2) The minimum requirements specified in section 7 for

 

projects identified in subsection (1)(a) shall ensure that those

 

projects satisfy the following requirements:

 

     (a) Meet a particular transportation need that is shown to

 

exist.

 

     (b) Have an immediate positive impact on local employment and

 

the economy.

 

     (c) Exclude speculative projects with little or no return on

 

investment. Projects that contribute to the economic development

 

and redevelopment of areas having experienced or having significant

 

potential to experience job loss which meet the criteria for

 

funding under section 7(3)(b)(ii) shall not be considered

 

speculative for the purposes of this subdivision.

 

     (d) Provide cooperation and support between developers and

 

state and local government.

 

     (e) Were evaluated on the basis of impact on the local

 

community.

 

     (3) A project that is within 1 or more of the categories in

 

subsection (1) shall also meet the criteria developed for that

 

category.

 

     (4) Beginning April 1, 2010, the commission shall not approve

 

a project that is within 1 or more of the categories in subsection

 

(1)(a) if the project is to accommodate a business that has failed

 

to comply with section 3 of the Michigan corporate responsibility

 

act or has failed to disclose a civil or criminal offense as

 

required by section 3 of the Michigan corporate responsibility act.