Bill Text: MI HB4425 | 2023-2024 | 102nd Legislature | Introduced

Michigan House Bill 4425

Introduced

Bill Title: State: interstate compacts and agreements; incentives to encourage companies to relocate from one state to another; prohibit. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 15.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2023-04-19 - Bill Electronically Reproduced 04/13/2023 [HB4425 Detail]

Download: Michigan-2023-HB4425-Introduced.html

HOUSE BILL NO. 4425

April 13, 2023, Introduced by Rep. Wegela and referred to the Committee on Economic Development and Small Business.

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. Beginning October 1, 2023, 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 receiving any funding from the Michigan economic development corporation or the fund would violate the company-specific subsidy interstate compact act.

Enacting section 1. This amendatory act does not take effect unless Senate Bill No.____ or House Bill No. 4971 (request no. 01662'23) of the 102nd Legislature is enacted into law.