2012 House Bill 5477

Senate Roll Call 466: Passed

To increase from 15 percent to 25 percent a cap on the overhead expenses allowed for recipients under certain "Michigan Strategic Fund" corporate subsidy programs. Also, to require subsidy deals to contain more specific "claw-back" provisions requiring repayment of subsidies if specified job creation, commercialization, or other metrics are not met, details of which would be on the public record and subject to the Freedom of Information Act. Finally, the bill would authorize investments or loans of taxpayer dollars to "micro-enterprise lenders".

29 Yeas / 7 Nays
Republican (19 Yeas / 7 Nays)
Democrat (10 Yeas / 0 Nays)
Excused or Not Voting (2)