Economic development: other; the state school aid act of 1979; amend to reflect elimination of the Michigan strategic fund. Amends secs. 26d & 65 of 1979 PA 94 (MCL 388.1626d & 388.1665). TIE BAR WITH: SB 0631'25
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Progress
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- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill modifies the State School Aid Act of 1979 to eliminate the Michigan Strategic Fund. Specifically, it adjusts sections 26d and 65 to reflect the fund’s discontinuation. Section 26d concerns reimbursements to intermediate districts, and section 65 relates to a pre-college engineering program that previously received funding from the Strategic Fund.
Key provisions
- Allocates $14.4 million from the state school aid fund for reimbursements to intermediate districts.
- Specifies that reimbursed funds must be used for the original property tax purposes.
- Requires the Michigan Strategic Fund and the Michigan Economic Development Corporation to collaborate with the Department of Treasury in identifying reimbursement amounts.
- Outlines the definition of the ‘Michigan Strategic Fund’ based on the date of enactment of the Economic Development Fair Competition and Free Enterprise Act.
- Allocates $900,000 for a pre-college engineering program focused on workforce development in southeast Michigan.
- Establishes eligibility criteria for the engineering program, including serving diverse communities and targeting at-risk and underrepresented students.
- Defines the ‘Michigan Strategic Fund’ for the purpose of this section.
- Requires Senate Bill 631 to be enacted for this bill to take effect.
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