2024 Senate Bill 1018

Economic development: Michigan strategic fund; approval and certification of certain research and development tax credits; authorize.

A bill to amend 1984 PA 270, entitled “Michigan strategic fund act,” by amending the title and sections 7 and 9 (MCL 125.2007 and 125.2009), the title as amended by 2005 PA 225, section 7 as amended by 2020 PA 358, and section 9 as amended by 2024 PA 117.

AI Analysis – Experimental

The bill amends the Michigan Strategic Fund Act to enhance economic development, expand the fund's powers, establish new programs, and mandate detailed annual reporting, contingent on the passage of a related bill.

Introduced in the Senate

Sept. 26, 2024

Introduced by Sen. Veronica Klinefelt (D-11) and two co-sponsors

Co-sponsored by Sens. Michael Webber (R-9) and Paul Wojno (D-10)

Referred to the Committee on Finance, Insurance, and Consumer Protection