Bill Text: MI HB4194 | 2015-2016 | 98th Legislature | Introduced

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Bill Title: Economic development; economic development corporations; authority to operate as a public entity; eliminate. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 15.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2015-02-17 - Printed Bill Filed 02/13/2015 [HB4194 Detail]

Download: Michigan-2015-HB4194-Introduced.html

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HOUSE BILL No. 4194

 

February 12, 2015, Introduced by Reps. Courser and Gamrat and referred to the Committee on Commerce and Trade.

 

     A bill to amend 1984 PA 270, entitled

 

"Michigan strategic fund act,"

 

(MCL 125.2001 to 125.2094) by adding section 15.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 15. (1) Beginning October 1, 2015, notwithstanding any

 

other provision of this act, the fund shall not delegate any duties

 

to, provide funding for, or otherwise assist the Michigan economic

 

development corporation.

 

     (2) Beginning October 1, 2015, notwithstanding any other

 

provision of this act, the fund shall not finance or otherwise

 

support a project or an economic development project, or provide a

 

loan, grant, or other assistance to any entity, if that project,

 

economic development project, or entity receives any funding from

 

the Michigan economic development corporation.