SB 0651
Economic development: other; Michigan economic growth authority act; amend to reflect elimination of the Michigan strategic fund. Amends sec. 3 of 1995 PA 24 (MCL 207.803) & adds sec. 3a. TIE BAR WITH: SB 0631'25
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill modifies the Michigan Economic Growth Authority Act to eliminate the Michigan Strategic Fund and establish a new authority, the ‘Bureau.’ It defines key terms related to economic development, including ‘affiliated business,’ ‘associated business,’ ‘authorized business,’ ‘distressed business,’ and ‘eligible business,’ outlining criteria for businesses seeking tax credits. The bill also addresses definitions related to facilities, film production, high-technology activities, and multimodal commerce, and establishes a tie bar with Senate Bill 631.
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Primary sponsor
Cosponsor
Thomas A. Albert
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