SB 0660
Economic development: other; economic development corporations act; amend to reflect elimination of the Michigan strategic fund. Amends sec. 23 of 1974 PA 338 (MCL 125.1623). 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 Economic Development Corporations Act to remove provisions related to the Michigan Strategic Fund. It clarifies that municipalities can still borrow money and issue revenue bonds for economic development projects, but the state’s involvement through the Strategic Fund is being eliminated. The bill maintains existing rules regarding bond issuance, reporting requirements, and public access to financial information.
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Primary sponsor
Cosponsor
Thomas A. Albert
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