Michigan Laws 206.51f – Payment under MCL 125.2090g to 125.2090j; deposit into good jobs for Michigan fund; definitions
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Terms Used In Michigan Laws 206.51f
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Shall: is a lways mandatory and "may" is always discretionary. See Michigan Laws 206.2
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(1) In addition to the distributions under section 51 and 51d, from the revenue collected from the tax levied under section 51 an amount equal to that portion of the withholding tax capture revenues attributable to certified new jobs and due to be paid to an authorized business pursuant to a written agreement entered into under chapter 8D of the Michigan strategic fund act, 1984 PA 270, MCL 125.2090g to 125.2090j, shall be deposited each state fiscal year into the good jobs for Michigan fund created in section 90j of the Michigan strategic fund act, 1984 PA 270, MCL 125.2090j.
(2) As used in this section, “authorized business”, “certified new jobs”, “withholding tax capture revenues”, and “written agreement” mean those terms as defined in section 90g of the Michigan strategic fund act, 1984 PA 270, MCL 125.2090g.