HB 4491
Economic development: other; application process for critical industry program and Michigan strategic site readiness program; revise. Amends secs. 88s & 88t of 1984 PA 270 (MCL 125.2088s & 125.2088t) & adds sec. 7c.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill revises the Michigan Strategic Fund Act to improve the application processes for two key economic development programs: the Critical Industry Program and the Michigan Strategic Site Readiness Program. Specifically, it requires businesses applying for these programs to attest to using merit-based hiring and promotion practices, establishes stricter criteria for fund investments, and mandates reporting requirements to track program effectiveness. The bill also aims to ensure transparency and accountability in how state funds are utilized to support economic growth.
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Primary sponsor
Cosponsors
Gregory Alexander
Gregory Markkanen
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