HB 5413
State: interstate compacts and agreements; corporate welfare prohibition compact; enact. Creates new act.
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- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
House Bill 5413 proposes that Michigan enter into the "Corporate Welfare Prohibition Compact," an agreement with other states to prohibit state and local governments from offering subsidies to private companies with the primary goal of attracting businesses. The compact aims to prevent states from competing through tax breaks and other incentives, promoting a more level playing field for businesses and reducing potential corruption. Once a sufficient number of states join, the compact would limit subsidies to contractual obligations and require Congressional action to formalize the agreement.
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Primary sponsor
Cosponsors
Gregory Alexander
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