Introduced
by
To essentially eliminate requirements that certain proportions of the money spent by a “<a href="http://www.michiganvotes.org/2005-HB-5047">21st Century Jobs Fund</a>” business subsidy program go to specified actions, including the state government buying shares of particular companies or giving them loans or cash grants, a tourism industry marketing subsidy, “community revitalization” subsidies, and other so-called government “economic development” spending. This bill and others in a legislative package would generally convert this from appearing to be a “rule-based” subsidy program governed by statutory prescriptions and restrictions into one in which the political appointees on the Michigan Strategic Fund board have more discretion to give out the subsidies as they choose. See also Senate Bills 269 to 272, and 2012 Senate Bill 929, now Public Act 145 of 2012.
Referred to the Committee on Economic Development
Reported without amendment
With the recommendation that the bill pass.
Referred to the Committee on Economic Development
