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2009 House Bill 5100: Expand 21st Century Jobs Fund subsidy options

Public Act 218 of 2009

Introduced by Rep. Ed Clemente (D) on June 16, 2009
To allow the “strategic economic investment and commercialization board” that is one component of the “21st Century Jobs Fund” to provide subsidies in the form of loans, convertible loans, equity investments, and warrants. Also, to increase the amount that can be spent each year on these subsidies, and not include administrative expenses within those caps.   Official Text and Analysis.
Referred to the House New Economy And Quality Of Life Committee on June 16, 2009
Reported in the House on June 24, 2009
Without amendment and with the recommendation that the bill pass.
Substitute offered by Rep. Tom McMillin (R) on June 25, 2009
To replace the previous version of the bill with one that does not allow the “strategic economic investment and commercialization board” to acquire an ownership (equity) interest in private companies it subsidizes.
The substitute failed by voice vote in the House on June 25, 2009
Received in the Senate on July 15, 2009
Referred to the Senate Commerce & Tourism Committee on July 15, 2009
Reported in the Senate on September 30, 2009
With the recommendation that the substitute (S-2) be adopted and that the bill then pass.
Substitute offered in the Senate on September 30, 2009
To use the bill as a legislative "vehicle" to deliver a particular subsdidy; see Senate-passed version for details.
The substitute passed by voice vote in the Senate on September 30, 2009
Passed 22 to 15 in the Senate on September 30, 2009.
    See Who Voted "Yes" and Who Voted "No".
To give $9 million to a local "economic development" agency in Holland, which in turn will use the money to develop a former Pfizer laboratory in Holland that was donated to Michigan State University. Also, to give the “strategic economic investment and commercialization board” that is one component of the “21st Century Jobs Fund” greater discretion in choosing what types of businesses it will give subsidies to.
Received in the House on September 30, 2009
Amendment offered by Rep. Ed Clemente (D) on September 30, 2009
To not use the bill as a legislative "vehicle" to deliver a particular subsdidy.
The amendment passed by voice vote in the House on September 30, 2009
Passed 97 to 11 in the House on September 30, 2009.
    See Who Voted "Yes" and Who Voted "No".
To give the “strategic economic investment and commercialization board” that is one component of the “21st Century Jobs Fund” greater discretion in choosing what types of businesses it will give subsidies to.
Received in the Senate on December 17, 2009
To concur with the House-passed version of the bill, which stripped out authorization for a particular business subsidy in the Holland area.
Signed by Gov. Jennifer Granholm on January 5, 2010

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