2023 Senate Bill 562

State management: funds; strategic outreach and attraction reserve fund; modify.

A bill to amend 2000 PA 489, entitled “Michigan trust fund act,” by amending sections 2 and 4 (MCL 12.252 and 12.254), section 2 as amended by 2023 PA 174 and section 4 as added by 2021 PA 137.

Mackinac Center Analysis

To rename a program that hands out taxpayer money to select businesses from the Strategic Outreach and Attraction Reserve fund to the Make it in Michigan fund. The bill would also recognize provisions of another economic development proposal to spend 50% of the money put into the fund on local government and nonprofit group projects in areas that receive business subsidies.

Introduced in the Senate

Oct. 4, 2023

Introduced by Sen. Mary Cavanagh (D-6)

Referred to the Committee on Economic and Community Development

Oct. 25, 2023

Reported with substitute S-1

Oct. 26, 2023

Referred to the Committee of the Whole

Oct. 31, 2023

Reported with substitute S-1

Substitute S-1 concurred in by voice vote

March 19, 2024

Substitute S-3 offered by Sen. Mary Cavanagh (D-6)

The substitute passed by voice vote

Passed in the Senate 20 to 15 (details)

Received in the House

March 20, 2024

Referred to the Committee on Economic Development and Small Business

June 11, 2024

Reported with substitute H-1