Michigan Laws 123.1225 – Transfer of funds to art institute services provider
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Terms Used In Michigan Laws 123.1225
- Art institute: means an encyclopedic art museum whose primary art collection and facility, at the date an authority is established, are owned by a municipality located in this state. See Michigan Laws 123.1203
- Authority: means an art institute authority established under section 5. See Michigan Laws 123.1203
Within 10 business days of the receipt of the funds from the local property tax collecting unit for the tax levied under this act, the authority shall transfer the funds, less the amount necessary to fund the payment of obligations incurred by the authority in accordance with this act, to the art institute services provider.