A bill to amend 1984 PA 270, entitled “Michigan strategic fund act,” by amending sections 88s and 88t (MCL 125.2088s and 125.2088t), section 88s as added by 2021 PA 136 and section 88t as added by 2021 PA 134.
House Bill No. 4771 (HB No. 4773 TIE BAR WITH HB No. 4771) amends Michigan’s economic development programs to increase legislative oversight, require prompt notification and fund recovery for delayed or canceled projects, enhance transparency and reporting, and ensure unspent or reclaimed funds revert to the state’s General Fund. House Bill No. 4772 (TIE BAR WITH HB No.4771) amends the Michigan Trust Fund Act to clarify the management and permissible uses of the Strategic Outreach and Attraction Reserve Fund, ensuring funds remain available for key economic development programs and requiring annual reporting, contingent on related legislation.
Introduced
by
Referred to the Committee on Appropriations
