Introduced
by
To allow the “<a href="http://www.michiganvotes.org/2005-HB-5047">21st Century Jobs Fund</a>” to purchase convertible loans, equity investments, or warrants from the "Jobs for Michigan Investment Fund," which is the fund into which revenues for this multi-faceted business subsidy program are deposited. Also, to eliminate provisions requiring the 21st Century Jobs Fund to spend a certain percentages of its revenue on loan guarantees for small businesses, on purchases of equity in businesses it selects, and on “competitive edge technology grants and loans.” Also, to allow the fund to use application fee revenue from entities seeking a share of these disbursements to defray its administrative expenses.
Referred to the Committee on New Economy and Quality of Life
