February 12, 2015, Introduced by Reps. McCready, Kelly, Canfield, Potvin, Bumstead, Chatfield, Santana, Iden, Pscholka, Poleski, Webber, Heise, Cole, Aaron Miller and Singh and referred to the Committee on Commerce and Trade.
A bill to amend 2003 PA 296, entitled
"Michigan early stage venture investment act of 2003,"
by amending section 31 (MCL 125.2261).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 31. The fund created in section 19 shall expire on
January
1, 2054. 2018. Any money in the fund, subject to all
outstanding debts and obligation of the Michigan early stage
venture investment corporation being defeased and satisfied, shall
be
distributed as provided in the Michigan early stage venture
investment
corporation's articles of incorporation or amendments to
those
articles of incorporation transferred to
the general fund of
this state on that date.