(1) Every circuit with not fewer than 3 circuit judges shall have a business court and shall submit a plan for the operation of the business court to the state court administrative office and the supreme court for approval.

    (2) A circuit other than a circuit described in subsection (1) may submit an administrative order for the operation of a business court to the state court administrative office and the supreme court for review as part of a concurrent jurisdiction plan.

    (3) The purpose of a business court is to do all of the following:

    (a) Establish judicial structures that will help all court users by improving the efficiency of the courts.

    (b) Allow business or commercial disputes to be resolved with the expertise, technology, and efficiency required by the information age economy.

    (c) Enhance the accuracy, consistency, and predictability of decisions in business and commercial cases.