2004 House Bill 5659

Introduced in the House

March 17, 2004

Introduced by Rep. John Stahl (R-82)

To authorize up to $25 million in state money to be deposited in banks for loans to certain businesses to purchase the assets of another Michigan business that is in bankruptcy proceedings or otherwise insolvent, as long as the assets could not be acquired without the government-subsidized loan, and the acquisition has the effect of increasing employment in the state.

Referred to the Committee on Commerce