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2022 Senate Bill 982: Set aside money for very large state subsidies to corporations and developers
Introduced by Sen. Wayne Schmidt R-Traverse City on March 24, 2022
To set at $2.5 billion the amount of state revenue that may set aside in a state “strategic outreach and attraction reserve fund” created in connection with very large corporate subsidies given to General Motors and potentially other favored corporations and developers authorized by a a 2021 law. Year-end balances that exceed this amount would be transferred to the state general fund.   Official Text and Analysis.
Referred to the Senate Economic and Small Business Development Committee on March 24, 2022
Reported in the Senate on September 22, 2022
With the recommendation that the bill pass.