Introduced by Rep. Yousef Rabhi (D) on February 4, 2020
To require that the agency in charge of selecting which businesses and developers will get state grants, loans, cash subsidies, tax credits or other benefits (the “Michigan Strategic Fund” and its “Michigan Economic Development Corporation” subsidiary), must post on its website the names of any firms that receive benefits and then cease operations, including the amount of benefits, whether the firm beached its benefits agreement, and an estimate of the likelihood of recovering any of the benefits (“clawbacks”). This is part of a state corporate welfare reform package consisting of Senate Bills 767 to 771 and House Bills 5458 to 5462. Official Text and Analysis.
Referred to the House Tax Policy Committee on February 4, 2020