125.2688 Designation of renaissance zones; limitation; additional zones; submission of designations to legislature; rejection of designations by concurrent resolution.

317 words·~1 min read·/mi/chapter-125/125-2688

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Sec. 8.

(1)Except as otherwise provided in this act, the board shall not designate more than 9 renaissance zones within this state. Not more than 6 of the renaissance zones shall be located in urban areas and not more than 4 of the renaissance zones shall be located in rural areas. For purposes of determining whether a renaissance zone is located in an urban area or rural area under this section, if any part of a renaissance zone is located within an urban area, the entire renaissance zone shall be considered to be located in an urban area.

(2)The board may designate additional renaissance zones within this state in 1 or more qualified local governmental units if that qualified local governmental unit or units contain a military installation that was operated by the United States department of defense and has closed after 1990.

(3)Each renaissance zone designated by the board under section 8a shall be submitted to the legislature, which, by concurrent resolution adopted by a majority vote of those elected to and serving in each house, on a record roll call vote, may reject that designation no later than the earlier of 45 days following the date of the designation by the board or December 31 of the year of designation.

History: 1996, Act 376 , Imd. Eff. July 17, 1996 ;-- Am. 1999, Act 139 , Imd. Eff. Oct. 11, 1999 ;-- Am. 2003, Act 93 , Imd. Eff. July 24, 2003 ;-- Am. 2003, Act 266 , Imd. Eff. Jan. 5, 2004 ;-- Am. 2006, Act 304 , Imd. Eff. July 20, 2006

Compiler's Notes: For transfer of Michigan strategic fund from department of management and budget to department of labor and economic growth, see E.R.O. No. 2003-1, compiled at MCL 445.2011.