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, and other so-called government ‘economic development’ spending. This and related bills would in general 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 subsidies as they choose. See also Senate Bills 269 to 272 and 278, House Bills 4481 and 4482, 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.
Passed in the Senate 36 to 2 (details)
Referred to the Committee on Commerce
Reported without amendment
With the recommendation that the substitute (H-2) be adopted and that the bill then pass.
Passed in the House 83 to 25 (details)
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, and other so-called government ‘economic development’ spending. This and related bills would in general 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 subsidies as they choose. See also Senate Bills 269 to 272 and 278, House Bills 4481 and 4482, and 2012 Senate Bill 929.
Passed in the Senate 30 to 7 (details)
To concur with the House-passed version of the bill.
