SENATE BILL NO. 92
January 26, 1999, Introduced by Senator PETERS and referred to the Committee on Government Operations. A bill to amend 1995 PA 24, entitled "Michigan economic growth authority act," (MCL 207.801 to 207.810) by adding section 8a. THE PEOPLE OF THE STATE OF MICHIGAN ENACT: 1 SEC. 8A. (1) AN AUTHORIZED BUSINESS OR PERSON WHO HAS AN 2 INTEREST IN AN AUTHORIZED BUSINESS, OR THE SPOUSE, PARENT, CHILD, 3 OR SPOUSE OF A CHILD OF A PERSON WHO HAS AN INTEREST IN AN AUTHO- 4 RIZED BUSINESS, SHALL NOT MAKE A CONTRIBUTION TO A CANDIDATE OR A 5 COMMITTEE DURING THE FOLLOWING PERIODS: 6 (A) THE TIME PERIOD DURING WHICH THE AUTHORIZED BUSINESS IS 7 ELIGIBLE FOR A TAX CREDIT AS PROVIDED IN THIS ACT. 8 (B) THE 3 YEARS FOLLOWING THE FINAL EXPIRATION OR TERMINA- 9 TION OF THE AUTHORIZED BUSINESS'S ELIGIBILITY FOR A TAX CREDIT AS 10 PROVIDED IN THIS ACT. 00447'99 JLB 2 1 (2) AN AUTHORIZED BUSINESS OR PERSON WHO HAS AN INTEREST IN 2 AN AUTHORIZED BUSINESS, OR THE SPOUSE, PARENT, CHILD, OR SPOUSE 3 OF A CHILD OF A PERSON WHO HAS AN INTEREST IN AN AUTHORIZED BUSI- 4 NESS, SHALL NOT MAKE A CONTRIBUTION TO A CANDIDATE OR COMMITTEE 5 THROUGH A LEGAL ENTITY THAT IS ESTABLISHED, DIRECTED, OR CON- 6 TROLLED BY ANY OF THE PERSONS DESCRIBED IN THIS SUBSECTION DURING 7 THE TIME PERIODS DESCRIBED IN SUBSECTION (1). 8 (3) FOR PURPOSES OF THIS SECTION, A PERSON IS CONSIDERED TO 9 HAVE AN INTEREST IN AN AUTHORIZED BUSINESS IF ANY OF THE FOLLOW- 10 ING CIRCUMSTANCES EXIST: 11 (A) THE PERSON HOLDS AT LEAST A 1% INTEREST IN THE AUTHO- 12 RIZED BUSINESS. 13 (B) THE PERSON IS AN OFFICER OR A MANAGERIAL EMPLOYEE OF THE 14 AUTHORIZED BUSINESS AS DEFINED BY RULES PROMULGATED BY THE 15 AUTHORITY. 16 (C) THE PERSON IS AN OFFICER OF A PERSON WHO HOLDS AT LEAST 17 A 1% INTEREST IN THE AUTHORIZED BUSINESS. 18 (D) THE PERSON IS AN INDEPENDENT COMMITTEE OF THE AUTHORIZED 19 BUSINESS. 20 (4) AN AUTHORIZED BUSINESS IS CONSIDERED TO HAVE MADE A CON- 21 TRIBUTION IF A CONTRIBUTION IS MADE BY A PERSON WHO HAS AN INTER- 22 EST IN THE AUTHORIZED BUSINESS. 23 (5) AS USED IN THIS SECTION: 24 (A) "CANDIDATE" MEANS BOTH OF THE FOLLOWING: 25 (i) THAT TERM AS DEFINED IN SECTION 3 OF THE MICHIGAN CAM- 26 PAIGN FINANCE ACT, 1976 PA 388, MCL 169.203. 00447'99 3 1 (ii) THE HOLDER OF ANY STATE, LEGISLATIVE, OR LOCAL ELECTIVE 2 OFFICE. 3 (B) "COMMITTEE" MEANS ANY OF THE FOLLOWING: 4 (i) A CANDIDATE COMMITTEE AS THAT TERM IS DEFINED IN 5 SECTION 3 OF THE MICHIGAN CAMPAIGN FINANCE ACT, 1976 PA 388, MCL 6 169.203. 7 (ii) A POLITICAL PARTY COMMITTEE AS THAT TERM IS DEFINED IN 8 SECTION 11 OF THE MICHIGAN CAMPAIGN FINANCE ACT, 1976 PA 388, MCL 9 169.211. 10 (iii) AN INDEPENDENT COMMITTEE AS THAT TERM IS DEFINED IN 11 SECTION 8 OF THE MICHIGAN CAMPAIGN FINANCE ACT, 1976 PA 388, MCL 12 169.208. 13 (iv) A COMMITTEE ORGANIZED BY A LEGISLATIVE CAUCUS OF A 14 CHAMBER OF THE LEGISLATURE. 15 (C) "OFFICER" MEANS EITHER OF THE FOLLOWING: 16 (i) AN INDIVIDUAL LISTED AS AN OFFICER OF A CORPORATION, 17 LIMITED LIABILITY COMPANY, OR LIMITED LIABILITY PARTNERSHIP. 18 (ii) AN INDIVIDUAL WHO IS A SUCCESSOR TO AN INDIVIDUAL 19 DESCRIBED IN SUBPARAGRAPH (i). 00447'99 Final page. JLB