Introduced by Sen. Mike Kowall (R) on March 19, 2013, to essentially eliminate requirements that certain proportions of the money spent by a “21st Century Jobs Fund” business subsidy program go to specified actions, including the state government buying shares of particular companies or giving them loans or cash grants, a tourism industry marketing subsidy, “community revitalization” subsidies, and other so-called government “economic development” spending. This bill and others in a legislative package would generally convert this from appearing to be a “rule-based” subsidy program governed by statutory prescriptions and restrictions into one in which the political appointees on the Michigan Strategic Fund board have more discretion to give out the subsidies as they choose. See also Senate Bills 269 to 272, and 2012 Senate Bill 929, now Public Act 145 of 2012.
Referred to the Senate Economic Development Committee on March 19, 2013.
Reported in the Senate on March 21, 2013, with the recommendation that the bill pass.