HB 5411
Economic development: Michigan strategic fund; requirements related to the modification of a grant, loan, or other economic assistance with an existing qualified business; provide for. Amends secs. 9 & 88r of 1984 PA 270 (MCL 125.2009 & 125.2088r).
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill updates the Michigan Strategic Fund Act to increase transparency and accountability regarding state economic development grants, loans, and other assistance. It requires the fund to provide detailed annual reports to the legislature and the public, outlining the recipients of assistance, the projects funded, and the economic impact of these investments. Specifically, it mandates reporting on job creation, retained jobs, and financial returns, as well as establishing procedures for modifying existing agreements and addressing potential clawback provisions.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsors
Gregory Alexander
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.