(i) A credit union directly or indirectly owns or controls a majority of the person's voting shares or other voting ownership interests. See Michigan Laws 490.102

Allegation: something that someone says happened.

Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.

Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.

Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.

Appraisal: A determination of property value.

Area median income: means the median income for the area as determined under section 8 of the United States housing act of 1937, 42 USC 1437f, adjusted for family size. See Michigan Laws 125.2652

Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.

Authority: means a brownfield redevelopment authority created under this act. See Michigan Laws 125.2652

Bank: means a bank that is organized under the laws of this state, any other state, the District of Columbia, or a territory or protectorate of the United States, or a national banking association chartered by the federal government under the national bank act, 12 USC 21 to 216d, and whose deposits are insured by an agency of the federal government. See Michigan Laws 490.102

Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.

Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.

Blighted: means property that meets any of the following criteria as determined by the governing body:

    (i) Has been declared a public nuisance in accordance with a local housing, building, plumbing, fire, or other related code or ordinance. See Michigan Laws 125.2652

Board: means the board of directors of an empowerment zone development corporation. See Michigan Laws 125.2565

Board: means the board of directors of an enterprise community development corporation. See Michigan Laws 125.2605

Board: means the board that supervises and controls an authority under section 5. See Michigan Laws 125.2652

Board member: means a member of a board of directors, board of trustees, or similar governing body of an organization. See Michigan Laws 490.102

Borrower: means a member who obtains a loan from a credit union. See Michigan Laws 490.102

Branch: means , except as otherwise provided in this subdivision, an office or other place of business at which a credit union receives deposits, pays checks, or lends money. See Michigan Laws 490.102

Brownfield plan: means a plan that meets the requirements of section 13 and 13b and is adopted under section 14. See Michigan Laws 125.2652

Captured taxable value: means the amount in 1 year by which the current taxable value of an eligible property subject to a brownfield plan, including the taxable value or assessed value, as appropriate, of the property for which specific taxes are paid in lieu of property taxes, exceeds the initial taxable value of that eligible property. See Michigan Laws 125.2652

Chief executive officer: means the mayor or city manager of a city, the president of a village, the supervisor of a township, or the county executive of a county or, if a county does not have a county executive, the chairperson of the county board of commissioners. See Michigan Laws 125.2565

Chief executive officer: means the mayor or city manager of a city, the president of a village, the supervisor of a township, or the county executive of a county or, if a county does not have a county executive, the chairperson of the county board of commissioners. See Michigan Laws 125.2605

Chief executive officer: means the mayor of a city, the village manager of a village, the township supervisor of a township, or the county executive of a county or, if the county does not have an elected county executive, the chairperson of the county board of commissioners. See Michigan Laws 125.2652

Combined brownfield plan: means a brownfield plan that also includes the information necessary to submit the plan to the department, Michigan state housing development authority, or Michigan strategic fund under section 15(20). See Michigan Laws 125.2652

Commissioner: means the director. See Michigan Laws 490.102

Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.

Construction period tax capture revenues: means funds equal to the amount of income tax levied and imposed in a calendar year on wages paid to individuals physically present and working within the eligible property for the construction, renovation, or other improvement of eligible property that is an eligible activity within a transformational brownfield plan. See Michigan Laws 125.2652

Contract: A legal written agreement that becomes binding when signed.

Corporate credit union: means a credit union whose field of membership consists primarily of other credit unions. See Michigan Laws 490.102

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.

Corporation: means an empowerment zone development corporation organized under this act. See Michigan Laws 125.2565

Corporation: means an enterprise community development corporation organized under this act. See Michigan Laws 125.2605

Corrective action: means that term as defined in part 111 or part 213. See Michigan Laws 125.2652

Counterclaim: A claim that a defendant makes against a plaintiff.

county drain commissioner: means the elected county drain commissioner or the person or persons designated to perform the duties of the elected county drain commissioner as provided in section 21 and 21a. See Michigan Laws 280.4

Credit union: means a domestic or foreign credit union. See Michigan Laws 490.102

Credit union board: means a board of directors, board of trustees, or other governing body of a credit union. See Michigan Laws 490.102

Credit union service organization: means a corporation or other legal entity that is engaged primarily in providing 1 or more of the products or services described in section 407 to credit unions or their members, that a domestic credit union may organize, invest in, or lend to under section 401(2)(gg), and that may or may not be controlled by 1 or more credit unions. See Michigan Laws 490.102

Deed: The legal instrument used to transfer title in real property from one person to another.

Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.

Department: means the department of environment, Great Lakes, and energy. See Michigan Laws 125.2652

Department: means the department of insurance and financial services. See Michigan Laws 490.102

Dependent: A person dependent for support upon another.

Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.

Director: means the director of the department. See Michigan Laws 490.102

Director of agriculture: means the director of the state department of agriculture. See Michigan Laws 280.511

Domestic credit union: means a cooperative, nonprofit entity organized under this act for the purposes of encouraging thrift among its members, providing a variety of financial services to its members, and providing an opportunity for its members to use and control their own money on a democratic basis in order to improve their economic and social condition. See Michigan Laws 490.102

drain: whenever used in this act , shall include the main stream or trunk and all tributaries or branches of any creek or river, any watercourse or ditch, either open or closed, any covered drain, any sanitary or any combined sanitary and storm sewer or storm sewer or conduit composed of tile, brick, concrete, or other material, any structures or mechanical devices, that will properly purify the flow of such drains, any pumping equipment necessary to assist or relieve the flow of such drains and any levee, dike, barrier, or a combination of any or all of same constructed, or proposed to be constructed, for the purpose of drainage or for the purification of the flow of such drains, but shall not include any dam and flowage rights used in connection therewith which is used for the generation of power by a public utility subject to regulation by the public service commission. See Michigan Laws 280.3

Due care activities: means those response activities identified as part of a brownfield plan that are necessary to allow the owner or operator of an eligible property in the plan to comply with the requirements of section 20107a or 21304c of the natural resources and environmental protection act, 1994 PA 451, MCL 324. See Michigan Laws 125.2652

Economic opportunity zone: means 1 or more parcels of property that meet all of the following:

    (i) That together are 40 or more acres in size. See Michigan Laws 125.2652

Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}

eligible activity: means 1 or more of the following:

    (i) For all eligible properties, eligible activities include all of the following:

    (A) Department specific activities. See Michigan Laws 125.2652

Eligible property: means either of the following:

    (i) Except as otherwise provided in sub-subparagraph (G), property for which eligible activities are identified under a brownfield plan that was used or is currently used for commercial, industrial, public, or residential purposes, including personal property located on the property, or former dumps, landfills, and other areas filled with nonnative material, to the extent included in the brownfield plan, and that meets 1 or more of the following conditions listed in sub-subparagraphs (A) to (F):

    (A) Is in a qualified local governmental unit and is a facility or a site or property as those terms are defined in part 213, historic resource, functionally obsolete, or blighted and includes parcels that are adjacent or contiguous to that property if the development of the adjacent and contiguous parcels is estimated to increase the captured taxable value of that property. See Michigan Laws 125.2652

employer: means that term as defined in section 8 of the income tax act of 1967, 1967 PA 281, MCL 206. See Michigan Laws 125.2652

Empowerment zone: means an area designated as an empowerment zone by the United States department of housing and urban development. See Michigan Laws 125.2565

Empowerment zone coordinating council: means a community-based partnership initiated by the chief executive officer of a municipality with a population of 900,000 or more to do all of the following:

    (i) Develop a strategic plan in accordance with 24 C. See Michigan Laws 125.2565

Enterprise community: means an area designated as an enterprise community by the United States department of housing and urban development or the United States department of agriculture. See Michigan Laws 125.2605

Environmental insurance: means liability insurance for environmental contamination and cleanup that is not otherwise required by state or federal law. See Michigan Laws 125.2652

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.

existing structures: includes any structure designed to be used as a dwelling. See Michigan Laws 125.2652

Facility: means that term as defined in part 201. See Michigan Laws 125.2652

Fiduciary: A trustee, executor, or administrator.

Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}

Former mill: means a former mill that has not been used for industrial purposes for the immediately preceding 2 years, that is not located in a qualified local governmental unit, that is a facility or is a site or a property as those terms are defined in part 213, functionally obsolete, or blighted, and that is located within 15 miles of a river that is a federal superfund site listed under the comprehensive environmental response, compensation and liability act of 1980, 42 USC 9601 to 9675, and that is located in a municipality with a population of less than 10,000. See Michigan Laws 125.2652

Fraud: Intentional deception resulting in injury to another.

Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. ^{Source: OCC}

Functionally obsolete: means that the property is unable to be used to adequately perform the function for which it was intended due to a substantial loss in value resulting from factors such as overcapacity, changes in technology, deficiencies or superadequacies in design, or other similar factors that affect the property itself or the property's relationship with other surrounding property. See Michigan Laws 125.2652

Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.

Governing body: means the body in which the legislative powers of a municipality are vested. See Michigan Laws 125.2565

Governing body: means the body in which the legislative powers of a municipality are vested. See Michigan Laws 125.2605

Governing body: means the elected body having legislative powers of a municipality creating an authority under this act. See Michigan Laws 125.2652

Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}

Historic resource: means that term as defined in section 90a of the Michigan strategic fund act, 1984 PA 270, MCL 125. See Michigan Laws 125.2652

Household income: means all income received by all individuals who are not less than 24 years of age when the household income is determined and who reside in a household while members of the household. See Michigan Laws 125.2652

Housing development activities: means 1 or more of the following:

    (i) Reimbursement provided to owners of rental housing units for qualified rehabilitation. See Michigan Laws 125.2652

Housing property: means 1 or more of the following:

    (i) A property on which 1 or more units of residential housing are proposed to be constructed, rehabilitated, or otherwise designed to be used as a dwelling. See Michigan Laws 125.2652

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

Income qualified household: means a person, a family, or unrelated persons living together, whose annual household income is not more than 120% of the area median income. See Michigan Laws 125.2652

Income qualified purchaser household: means a purchaser who is, or who is a member of, an income qualified household. See Michigan Laws 125.2652

Income qualified renting household: means a renter who is, or who is a member of, an income qualified household. See Michigan Laws 125.2652

Income tax: means the tax levied and imposed under part 1 of the income tax act of 1967, 1967 PA 281, MCL 206. See Michigan Laws 125.2652

Income tax capture revenues: means , with respect to each eligible property subject to a transformational brownfield plan, funds equal to the amount for each tax year by which the aggregate income tax from individuals residing within the eligible property subject to a transformational brownfield plan exceeds the initial income tax value. See Michigan Laws 125.2652

Industrial cleaning: means cleaning or removal of contaminants from within a structure necessary to achieve the intended use of the property. See Michigan Laws 125.2652

Infrastructure improvements: means a street, road, sidewalk, parking facility, pedestrian mall, alley, bridge, sewer, sewage treatment plant, property designed to reduce, eliminate, or prevent the spread of identified soil or groundwater contamination, drainage system, waterway, waterline, water storage facility, rail line, utility line or pipeline, transit-oriented development, transit-oriented property, or other similar or related structure or improvement, together with necessary easements for the structure or improvement, owned or used by a public agency or functionally connected to similar or supporting property owned or used by a public agency, or designed and dedicated to use by, for the benefit of, or for the protection of the health, welfare, or safety of the public generally, whether or not used by a single business entity, if any road, street, or bridge is continuously open to public access and other property is located in public easements or rights-of-way and sized to accommodate reasonably foreseeable development of eligible property in adjoining areas. See Michigan Laws 125.2652

Initial income tax value: means , with respect to each eligible property subject to a transformational brownfield plan, the aggregate amount of income tax less credits under sections 255, 265, 266, and chapter 9 of the income tax act of 1967, 1967 PA 281, MCL 206. See Michigan Laws 125.2652

Initial sales and use tax value: means , with respect to each eligible property subject to a transformational brownfield plan, the aggregate amount of sales tax and use tax collected from persons located within the eligible property for the tax year in which the resolution adding that eligible property in the transformational brownfield plan is adopted. See Michigan Laws 125.2652

Initial taxable value: means the taxable value of an eligible property identified in and subject to a brownfield plan at the time the resolution adding that eligible property in the brownfield plan is adopted, as shown either by the most recent assessment roll for which equalization has been completed at the time the resolution is adopted or, if provided by the brownfield plan, by the next assessment roll for which equalization will be completed following the date the resolution adding that eligible property in the brownfield plan is adopted. See Michigan Laws 125.2652

Initial withholding tax value: means , with respect to each eligible property subject to a transformational brownfield plan, the amount of income tax withheld under chapter 17 of the income tax act of 1967, 1967 PA 281, MCL 206. See Michigan Laws 125.2652

Intercounty drain: means any drain, irrespective of size, carrying drainage water or sewage originating in more than 1 county, and includes drains located, established and constructed by a county drain commissioner or drainage board, by a city, village or township. See Michigan Laws 280.511

Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}

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.

Land bank fast track authority: means an authority created under the land bank fast track act, 2003 PA 258, MCL 124. See Michigan Laws 125.2652

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}

Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

Lien: A claim against real or personal property in satisfaction of a debt.

Michigan state housing development authority: means the Michigan state housing development authority created in section 21 of the state housing development authority act of 1966, 1966 PA 346, MCL 125. See Michigan Laws 125.2652

Michigan strategic fund: means the Michigan strategic fund created under the Michigan strategic fund act, 1984 PA 270, MCL 125. See Michigan Laws 125.2652

Mixed-use: means a real estate project with planned integration of some combination of retail, office, residential, or hotel uses. See Michigan Laws 125.2652

month: means a calendar month; the word "year" a calendar year; and the word "year" alone shall be equivalent to the words "year of our Lord". See Michigan Laws 8.3j

Mortgage: The written agreement pledging property to a creditor as collateral for a loan.

Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}

Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.

Municipality: means a county, city, village, or township. See Michigan Laws 125.2565

Municipality: means a county, city, village, or township. See Michigan Laws 125.2605

Municipality: means all of the following:

    (i) A city. See Michigan Laws 125.2652

Net worth: means the sum of a credit union's undivided earnings and reserves. See Michigan Laws 490.103

Oath: A promise to tell the truth.

oath: shall be construed to include the word "affirmation" in all cases where by law an affirmation may be substituted for an oath; and in like cases the word "sworn" shall be construed to include the word "affirmed". See Michigan Laws 8.3k

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.

Officer: means the chairperson of the board, the vice-chairperson of the board, the secretary, the treasurer, the general manager, an individual whose title is "president" an assistant treasurer, or an assistant secretary of a credit union, or any other individual who is specifically designated as an officer of a credit union by the credit union board. See Michigan Laws 490.103

Official: means a member of a credit union board or an officer, member of a credit committee or supervisory committee, or member of any other committee performing functions similar to a credit committee or supervisory committee, of a credit union. See Michigan Laws 490.103

Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) ^{Source: OCC}

Oversight: Committee review of the activities of a Federal agency or program.

Owned by or under the control of: means that a land bank fast track authority, a municipality, or a qualified local governmental unit has 1 or more of the following:

    (i) An ownership interest in the property. See Michigan Laws 125.2652

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: means an individual, corporation, partnership, limited liability company, association, governmental entity, or any other legal entity. See Michigan Laws 490.103

person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l

Personal property: All property that is not real property.

Plaintiff: The person who files the complaint in a civil lawsuit.

Previously developed property: means property that was part of an existing developed residential, commercial, or industrial zone and contained a structure serviced by utilities, or former dumps, landfills, and other areas filled with nonnative material. See Michigan Laws 125.2652

Principal place of business: means the place where a domestic credit union keeps its principal records. See Michigan Laws 490.103

Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.

Public corporation: includes this state, counties, cities, villages, townships, metropolitan districts and authorities created by or pursuant to state statutes. See Michigan Laws 280.511

Qualified facility: means a landfill facility area of 15 or more contiguous acres that is located in a city and that contains, contained, or is adjacent to a landfill, a material recycling facility, or an asphalt plant that is no longer in operation. See Michigan Laws 125.2652

Qualified local governmental unit: means that term as defined in the obsolete property rehabilitation act, 2000 PA 146, MCL 125. See Michigan Laws 125.2652

Qualified rehabilitation: means rehabilitation of existing structures that is necessary to make a housing unit suitable for sale to an income qualified purchaser household or rent to an income qualified renting household. See Michigan Laws 125.2652

Qualified taxpayer: means that term as defined in section 38d and 38g of former 1975 PA 228, or section 437 of the Michigan business tax act, 2007 PA 36, MCL 208. See Michigan Laws 125.2652

Quorum: The number of legislators that must be present to do business.

Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.

Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}

Release: means that term as defined in part 201 or part 213. See Michigan Laws 125.2652

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.

Response activity: means either of the following:

    (i) Response activity as that term is defined in part 201. See Michigan Laws 125.2652

Sales and use tax capture revenues: means , with respect to each eligible property subject to a transformational brownfield plan, the amount for each calendar year by which the sales tax and use tax collected from persons within the eligible property exceeds the initial sales and use tax value. See Michigan Laws 125.2652

Sales tax: means the tax levied under the general sales tax act, 1933 PA 167, MCL 205. See Michigan Laws 125.2652

Savings bank: means a savings bank that is organized under the laws of this state, any other state, the District of Columbia, a territory or protectorate of the United States, or of the United States, and whose deposits are insured by an agency of the federal government. See Michigan Laws 490.103

seal: shall be construed to include any of the following:

    (a) The impression of the seal on the paper alone. See Michigan Laws 8.3n

Senior management employee: means any individual who is designated as a senior policy-making employee of a credit union by the board of the credit union. See Michigan Laws 490.103

Service center: means a place of business of a credit union, other than the principal place of business or a branch, where the credit union may transact business authorized by the credit union board. See Michigan Laws 490.103

Service of process: The service of writs or summonses to the appropriate party.

Specific taxes: means all of the following:

    (i) A tax levied under any of the following:

    (A) 1974 PA 198, MCL 207. See Michigan Laws 125.2652

State: means this state. See Michigan Laws 280.511

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 brownfield redevelopment fund: means the state brownfield redevelopment fund created in section 8a. See Michigan Laws 125.2652

Statute: A law passed by a legislature.

Strategic plan: means a plan agreed to by this state and a municipality concerning an empowerment zone that includes both of the following:

    (i) Certification of the authority to adopt a strategic plan in an application for nomination as an empowerment zone under applicable federal regulations. See Michigan Laws 125.2565

Strategic plan: means a plan agreed to by this state and a municipality concerning an enterprise community that includes both of the following:

    (i) Certification of the authority to adopt a strategic plan in an application for nomination as an enterprise community under applicable federal regulations. See Michigan Laws 125.2605

Substantial interest: means 1 or more of the following:

    (i) Owning real property or a business located in the empowerment zone. See Michigan Laws 125.2565

Substantial interest: means 1 or more of the following:

    (i) Owning real property or a business located in the enterprise community. See Michigan Laws 125.2605

Targeted redevelopment area: means not fewer than 40 and not more than 500 contiguous parcels of real property located in a qualified local governmental unit and designated as a targeted redevelopment area by resolution of the governing body and approved by the Michigan strategic fund. See Michigan Laws 125.2652

Tax increment revenues: means the amount of ad valorem property taxes and specific taxes attributable to the application of the levy of all taxing jurisdictions on the captured taxable value of each parcel of eligible property subject to a brownfield plan and personal property located on that property, regardless of whether those taxes began to be levied after the brownfield plan was adopted. See Michigan Laws 125.2652

Taxable value: means the value determined under section 27a of the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 125.2652

Taxes levied for school operating purposes: means all of the following:

    (i) The taxes levied by a local school district for operating purposes. See Michigan Laws 125.2652

Testimony: Evidence presented orally by witnesses during trials or before grand juries.

Transformational brownfield plan: means a brownfield plan that meets the requirements of section 13c and is adopted under section 14a and, as designated by resolution of the governing body and approved by the Michigan strategic fund, will have a transformational impact on local economic development and community revitalization based on the extent of brownfield redevelopment and growth in population, commercial activity, and employment that will result from the plan. See Michigan Laws 125.2652

Transit-oriented development: means infrastructure improvements that are located within 1/2 mile of a transit station or transit-oriented property 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 125.2652

Transit-oriented property: means property that houses a transit station in a manner that promotes transit ridership or passenger rail use. See Michigan Laws 125.2652

United States: shall be construed to include the district and territories. See Michigan Laws 8.3o

Use tax: means the tax levied under the use tax act, 1937 PA 94, MCL 205. See Michigan Laws 125.2652

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.

wages: means that term as defined in section 3401 of the internal revenue code of 1986, 26 USC 3401. See Michigan Laws 125.2652

Withholding tax capture revenues: means , with respect to each eligible property subject to a transformational brownfield plan, the amount for each calendar year by which the income tax withheld under chapter 17 of the income tax act of 1967, 1967 PA 281, MCL 206. See Michigan Laws 125.2652

Work plan: means a plan that describes each individual activity to be conducted to complete eligible activities and the associated costs of each individual activity. See Michigan Laws 125.2652

Zone: means , for an authority established before June 6, 2000, a brownfield redevelopment zone designated under this act. See Michigan Laws 125.2652