HB 5418
Economic development: Michigan strategic fund; posting of information on website; modify. Amends secs. 88b & 88r of 1984 PA 270 (MCL 125.2088b & 125.2088r).
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill modifies the Michigan Strategic Fund Act to improve transparency and accountability. It requires the fund to post detailed information on its website about businesses receiving economic assistance, including the amount of aid, the terms of the agreement, and the likelihood of repayment if the business fails to meet its obligations. The bill also clarifies how the fund can administer its programs and ensures that funds are used to support economic development activities with repayment provisions.
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Primary sponsor
Cosponsors
Gregory Alexander
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