Michigan Laws > Chapter 38 > Act 325 of 1978 – Quality Recognition System
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Terms Used In Michigan Laws > Chapter 38 > Act 325 of 1978 - Quality Recognition System
- Advance: means a transfer of funds made by a municipality to an authority or to another person on behalf of the authority. See Michigan Laws 125.4301
- Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Assessed value: means 1 of the following:
(i) For valuations made before January 1, 1995, the state equalized valuation as determined under the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 125.4301Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account. Authority: means a tax increment finance authority created under this part. See Michigan Laws 125.4301 Authority: means a downtown development authority created pursuant to this part. See Michigan Laws 125.4201 Authority district: means that area within which an authority exercises its powers and within which 1 or more development areas may exist. See Michigan Laws 125.4301 Board: means the governing body of an authority. See Michigan Laws 125.4301 Board: means the governing body of an authority. See Michigan Laws 125.4201 Captured assessed value: means the amount in any 1 year by which the current assessed value of the development area, including the assessed value of property for which specific local taxes are paid in lieu of property taxes as determined in subdivision (w), exceeds the initial assessed value. See Michigan Laws 125.4301 Chief executive officer: means the mayor or city manager of a city, the president of a village, or the supervisor of a township. See Michigan Laws 125.4301 Contract: A legal written agreement that becomes binding when signed. Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name. County plat board: means the register of deeds, who shall act as chairperson, the county clerk, who shall act as secretary, and the county treasurer. See Michigan Laws 560.102 Department: means the department of management and budget. See Michigan Laws 38.1161 Development area: means that area to which a development plan is applicable. See Michigan Laws 125.4301 Development area: means that area to which a development plan is applicable. See Michigan Laws 125.4201 Development plan: means that information and those requirements for a development set forth in section 16. See Michigan Laws 125.4301 Director: means the director of the department or his or her designee. See Michigan Laws 38.1161 district: means that area to which the tax increment finance plan pertains. See Michigan Laws 125.4301 Downtown district: means that part of an area in a business district that is specifically designated by ordinance of the governing body of the municipality pursuant to this part. See Michigan Laws 125.4201 Eligible advance: means an advance made before August 19, 1993. See Michigan Laws 125.4301 Eligible obligation: means an obligation issued or incurred by an authority or by a municipality on behalf of an authority before August 19, 1993 and its subsequent refunding by a qualified refunding obligation. See Michigan Laws 125.4301 Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other. Fire alarm system: means a system designed to detect and annunciate the presence of fire, or by-products of fire. See Michigan Laws 125.4201 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. Governing body: means the legislative body of a city or village or the township board of a township. See Michigan Laws 560.102 Governing body: means the elected body of a municipality having legislative powers. See Michigan Laws 125.4301 Health department: means the department of environmental quality, a city health department, a county health department, or a district health department, whichever has jurisdiction. See Michigan Laws 560.102 in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q inhabitant: means a resident of a city, township, village, district or county. See Michigan Laws 8.3f Initial assessed value: means the assessed value, as equalized, of all the taxable property within the boundaries of the development area at the time the resolution establishing the tax increment financing plan is approved as shown by the most recent assessment roll of the municipality for which equalization has been completed at the time the resolution is adopted. See Michigan Laws 125.4301 Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases. Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC Municipality: means a city, village, or township. See Michigan Laws 125.4201 Municipality: means a city. See Michigan Laws 125.4301 Municipality: means a township, city, or village. See Michigan Laws 560.102 Obligation: means a written promise to pay, whether evidenced by a contract, agreement, lease, sublease, bond, or note, or a requirement to pay imposed by law. See Michigan Laws 125.4301 Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. Other protected obligation: means :
(i) A qualified refunding obligation issued to refund an obligation described in subparagraph (ii) or (iii), an obligation that is not a qualified refunding obligation that is issued to refund an eligible obligation, or a qualified refunding obligation issued to refund an obligation described in this subparagraph. See Michigan Laws 125.4301Oversight: Committee review of the activities of a Federal agency or program. Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses. person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l Person: means a person as defined in section 1106 or a governmental entity. See Michigan Laws 333.13501 Personal property: All property that is not real property. Plat: means a map or chart of a subdivision of land. See Michigan Laws 560.102 Preliminary plat: means a map showing the salient features of a proposed subdivision submitted to an approving authority for purposes of preliminary consideration. See Michigan Laws 560.102 Process improvement: is a recommended improvement that is concisely written and identifies a problem, situation, or opportunity for improvement, together with a recommendation for a remedy. See Michigan Laws 38.1161 Proprietor: means a natural person, firm, association, partnership, corporation, or combination of any of them that holds an ownership interest in land whether recorded or not. See Michigan Laws 560.102 Public facility: means a street, plaza, pedestrian mall, and any improvements to a street, plaza, or pedestrian mall including street furniture and beautification, park, parking facility, recreational facility, right-of-way, structure, waterway, bridge, lake, pond, canal, utility line or pipe, building, and access routes to any of the foregoing, designed and dedicated to use by the public generally, or used by a public agency. See Michigan Laws 125.4201 Public facility: means 1 or more of the following:
(i) A street, plaza, or pedestrian mall, and any improvements to a street, plaza, boulevard, alley, or pedestrian mall, including street furniture and beautification, park, parking facility, recreation facility, playground, school, library, public institution or administration building, right-of-way, structure, waterway, bridge, lake, pond, canal, utility line or pipeline, transit-oriented development, transit-oriented facility, and other similar facilities and necessary easements of these facilities designed and dedicated to use by the public generally or used by a public agency. See Michigan Laws 125.4301Qualified refunding obligation: means an obligation issued or incurred by an authority or by a municipality on behalf of an authority to refund an obligation if 1 of the following applies:
(i) The refunding obligation meets both of the following:
(A) The net present value of the principal and interest to be paid on the refunding obligation, including the cost of issuance, will be less than the net present value of the principal and interest to be paid on the obligation being refunded, as calculated using a method approved by the department of treasury. See Michigan Laws 125.4301Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. recognition board: means the recognition board established in section 2. See Michigan Laws 38.1161 Registration: means registration of a source of ionizing radiation in writing with the department. See Michigan Laws 333.13501 Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant. Retired state employee: means an individual who has retired from state service and is receiving a retirement benefit from either the defined benefits or defined contributions retirement plans sponsored by this state. See Michigan Laws 38.1161 Specific local tax: means a tax levied under 1974 PA 198, MCL 207. See Michigan Laws 125.4301 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 State employee: means a classified member of the state civil service or an unclassified employee of the executive, legislative, or judicial branch of state government. See Michigan Laws 38.1161 Statute: A law passed by a legislature. Tax increment financing plan: means that information and those requirements set forth in section 313 to 315. See Michigan Laws 125.4301 Tax increment revenues: means the amount of ad valorem property taxes and specific local taxes attributable to the application of the levy of all taxing jurisdictions upon the captured assessed value of real and personal property in the development area, subject to the following requirements:
(i) Tax increment revenues include ad valorem property taxes and specific local taxes attributable to the application of the levy of all taxing jurisdictions other than the state pursuant to the state education tax act, 1993 PA 331, MCL 211. See Michigan Laws 125.4301Transit-oriented development: means infrastructure improvements that are located within 1/2 mile of a transit station or transit-oriented facility that promotes transit ridership or passenger rail use as determined by the board and approved by the municipality in which it is located. See Michigan Laws 125.4301 Transit-oriented facility: means a facility that houses a transit station in a manner that promotes transit ridership or passenger rail use. See Michigan Laws 125.4301 Trustee: A person or institution holding and administering property in trust. United States: shall be construed to include the district and territories. See Michigan Laws 8.3o Value added behavior: means a positive contribution by a person that advances the implementation of a process improvement or otherwise assists in the advancement of overall organizational success. See Michigan Laws 38.1161 Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.