Type 2C protein phosphatase (PP2C); dephosphorylates Hog1p, inactivating the osmosensing MAPK cascade; involved in Fus3p activation during pheromone response; deletion affects precursor tRNA splicing, mitochondrial inheritance, and sporulation; involved in myosin-V dependent inheritance of mitochondria, peroxisomes, vacuoles and secretory vesicles; localizes to the nucleus, cytoplasm and peroxisomes