Public employees and officers: other; elected officials signing certain nondisclosure agreements; restrict. Creates new act.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill, the "Economic Development Transparency Act", restricts public officials and elected officials from signing nondisclosure agreements related to economic development projects. Specifically, it prohibits these agreements from concealing information about projects receiving state or local incentives, such as job creation numbers, investment amounts, or site locations. The act aims to increase transparency surrounding economic development deals and prevent the use of public funds in these agreements.
Key provisions
- Defines "economic development incentive" as various forms of financial assistance.
- Defines "economic development project" as any project receiving an economic development incentive.
- Defines key terms including ‘nondisclosure agreement’ and ‘Michigan economic development corporation’.
- Prohibits public officers from entering nondisclosure agreements that conceal information about economic development projects.
- Specifically prohibits the use of public funds in these agreements.
- Agreements violating the act are void and unenforceable.
- The act applies to agreements entered into on or after the effective date.
- The act is named the "Economic Development Transparency Act".
Who is affected
- Public officers
- Elected officials
- State government
- Local governments (counties, cities, etc.)
- Organizations receiving economic development incentives
Bill text
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Document of record
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- Senate Introduced Bill
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