2004 Senate Bill 1117

Introduced in the Senate

March 18, 2004

Introduced by Sen. Mike Bishop (R-12)

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 would increase employment in the state.

Referred to the Committee on Economic Development, Small Business, and Regulatory Reform