Introduced
by
To require that before selective state grants, loans, cash subsidies, tax credits, or other benefits are promised to particular corporations and developers, officials in the relevant department (the “Michigan Strategic Fund” department and its “Michigan Economic Development Corporation” agency) must post the proposed “contract approval agreements” and support material for a specific benefit award on the internet at least 10 business days before approval. This refers to contracts with beneficiaries prescribing how much they get and the conditions they are supposed to meet. This is part of a corporate welfare reform package consisting of Senate Bills 767 to 771 and House Bills 5458 to 5462.
Referred to the Committee on Tax Policy
