HB 5415
State: interstate compacts and agreements; certain economic incentives; prohibit this state from providing if doing so would violate the corporate welfare prohibition compact act. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 15. TIE BAR WITH: HB 5413'25
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Bill overview
This bill modifies the Michigan Strategic Fund Act to prevent the state from using funds or providing incentives to businesses if doing so would conflict with the Corporate Welfare Prohibition Compact Act. Specifically, starting October 1, 2027, the state’s economic development fund cannot finance projects or offer loans, grants, or other assistance that would violate this compact. The bill is contingent on the passage of Senate Bill No. 02934’25 and House Bill No. 5413. This legislation aims to ensure that economic development investments align with the restrictions outlined in the Corporate Welfare Prohibition Compact Act.
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Primary sponsor
Cosponsors
Gregory Alexander
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