HB5652, As Passed House, Sep, 22, 2016
May 12, 2016, Introduced by Reps. Byrd, Sheppard, Hughes, Hovey-Wright and LaVoy and referred to the Committee on Local Government.
A bill to amend 1984 PA 270, entitled
"Michigan strategic fund act,"
by amending section 4 (MCL 125.2004), as amended by 2014 PA 507.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 4. As used in this act:
(a) "Board" means the board of directors of the Michigan
strategic fund, except where the context clearly requires a
different definition.
(b) "Economic development project" means an endeavor related
to industrial, commercial, or agricultural enterprise. Economic
development project includes, but is not limited to, a theme or
recreation park; agricultural or forestry production, harvesting,
storage, or processing facilities or equipment; port facilities;
and the use of equipment or facilities designed to produce energy
from renewable resources. Economic development project does not
include that portion of an endeavor devoted to the sale of goods at
retail, except that, as used in relation to the fund insuring a
transaction entered into by a depository institution, and as used
in relation to a loan by the fund to a minority owned business, an
economic development project may include that portion of an
endeavor devoted to the sale of goods at retail. Economic
development project does not include that portion of an endeavor
devoted to housing or a program or activity authorized under
chapter 8A.
(c) "Financial institution" means a state or nationally
chartered bank or a state or federally chartered savings and loan
association, savings bank, or credit union whose deposits are
insured by an agency of the United States government and that
maintains a principal office or branch office in this state under
the laws of this state or the United States.
(d) "Fund" means the Michigan strategic fund created under
section 5, except where the context clearly requires a different
definition.
(e) "Green chemistry" means chemistry and chemical engineering
to design chemical products or processes that reduce or eliminate
the use or generation of hazardous substances, while producing
high-quality products through safe and efficient manufacturing
processes. Green chemistry is guided by the following 12
principles:
(i) Prevent waste: Design chemical syntheses to prevent waste,
leaving no waste to treat or clean up.
(ii) Design safer chemicals and products: Design chemical
products to be fully effective, yet have little or no toxicity.
(iii) Design less hazardous chemical syntheses: Design
syntheses to use and generate substances with little or no toxicity
to humans and the environment.
(iv) Use renewable feedstocks: Use raw materials and
feedstocks that are renewable rather than depleting. Renewable
feedstocks are often made from agricultural products or are the
wastes of other processes; depleting feedstocks are made from
fossil fuels, including petroleum, natural gas, or coal, or are
mined.
(v) Use catalysts, not stoichiometric reagents: Minimize waste
by using catalytic reactions. Catalysts are used in small amounts
and can carry out a single reaction many times. They are preferable
to stoichiometric reagents, which are used in excess and work only
once.
(vi) Avoid chemical derivatives: Avoid using blocking or
protecting groups or any temporary modifications if possible.
Derivatives use additional reagents and generate waste.
(vii) Maximize atom economy: Design syntheses so that the
final product contains the maximum proportion of the starting
materials. There should be few, if any, wasted atoms.
(viii) Use safer solvents and reaction conditions: Avoid using
solvents, separation agents, or other auxiliary chemicals. If these
chemicals are necessary, use innocuous chemicals.
(ix) Increase energy efficiency: Run chemical reactions at
ambient temperature and pressure whenever possible.
(x) Design chemicals and products to degrade after use: Design
chemical products to break down to innocuous substances after use
so that they do not accumulate in the environment.
(xi) Analyze in real-time to prevent pollution: Include in-
process real-time monitoring and control during syntheses to
minimize or eliminate the formation of by-products.
(xii) Minimize the potential for accidents: Design chemicals
and their forms, including solid, liquid, or gas, to minimize the
potential for chemical accidents, including explosions, fires, and
releases to the environment.
(f) "Michigan economic development corporation" or "MEDC"
means the Michigan economic development corporation, the public
body corporate created under section 28 of article VII of the state
constitution of 1963 and the urban cooperation act of 1967, 1967
(Ex Sess) PA 7, MCL 124.501 to 124.512, by a contractual interlocal
agreement effective April 5, 1999, and subsequently amended,
between local participating economic development corporations
formed under the economic development corporations act, 1974 PA
338, MCL 125.1601 to 125.1636, and the fund.
(g) "Municipality" means a county, city, village, township,
port district, development organization, institution of higher
education, community or junior college, or subdivision or
instrumentality of any of the legal entities listed in this
subdivision.
(h) "Person" means an individual, sole proprietorship,
partnership, limited partnership, limited liability partnership,
limited liability company, joint venture, profit or nonprofit
corporation including a public or private college or university,
public utility, municipality, local industrial development
corporation, economic development corporation, other association of
persons organized for agricultural, commercial, or industrial
purposes, a lender, or any other entity approved by the board.
(i) "Port facilities" means seawall jetties; piers; wharves;
docks; boat landings; marinas; warehouses; storehouses; elevators;
grain bins; cold storage plants; bunkers; oil tanks; ferries;
canals; locks; bridges; tunnels; seaways; conveyors; modern
appliances for the economical handling, storage, and transportation
of freight and handling of passenger traffic; transfer and terminal
facilities required for the efficient operation and development of
ports and harbors; other harbor improvements; or improvements,
enlargements, remodeling, or extensions of any of these buildings
or structures; and other real or personal property necessary to
enhance commercial maritime activities. Port facilities do not
include an international bridge or international tunnel.
(j) "Project" means an economic development project and, in
addition, means the acquisition, construction, reconstruction,
conversion, or leasing of an industrial, commercial, retail,
agricultural, or forestry enterprise, or any part of these, to
carry out the purposes and objectives of this act and of the fund,
including, but not limited to, acquisition of land or interest in
land, buildings, structures, or other planned or existing planned
improvements to land including leasehold improvements, machinery,
equipment, or furnishings which include, but are not limited to,
the following: research parks; office facilities; engineering
facilities; research and development laboratories; warehousing
facilities; parts distribution facilities; depots or storage
facilities; port facilities; railroad facilities, including
trackage, right of way, and appurtenances; airports; bridges and
bridge facilities; water and air pollution control equipment or
waste disposal facilities; theme or recreational parks; equipment
or facilities designed to produce energy from renewable resources;
farms, ranches, forests, and other agricultural or forestry
commodity producers; agricultural harvesting, storage,
transportation, or processing facilities or equipment; grain
elevators; shipping heads and livestock pens; livestock;
warehouses; wharves and dock facilities; dredging of recreational
or commercial harbors; water, electricity, hydro electric, coal,
petroleum, or natural gas provision facilities; dams and irrigation
facilities; sewage, liquid, and solid waste collection, disposal
treatment, and drainage services and facilities. Project does not
include a program or activity authorized under chapter 8A.
(k) "Private sector" means other than the fund, a state or
federal source, or an agency of a state or the federal government.