Bill Text: MI HB4667 | 2013-2014 | 97th Legislature | Introduced

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Bill Title: State financing and management; funds; strategic fund; revise funding from 21st century job trust fund. Amends sec. 88b of 1984 PA 270 (MCL 125.2088b).

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2013-05-07 - Printed Bill Filed 05/03/2013 [HB4667 Detail]

Download: Michigan-2013-HB4667-Introduced.html

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HOUSE BILL No. 4667

 

May 2, 2013, Introduced by Rep. Poleski and referred to the Committee on Appropriations.

 

     A bill to amend 1984 PA 270, entitled

 

"Michigan strategic fund act,"

 

by amending section 88b (MCL 125.2088b), as amended by 2012 PA 145.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 88b. (1) The fund shall create and operate programs

 

authorized under this chapter. The fund board shall determine the

 

annual allocation of money for programs authorized under this

 

chapter and make authorized expenditures or investments from the

 

investment fund of the 21st century jobs trust fund created in the

 

Michigan trust fund act, 2000 PA 489, MCL 12.251 to 12.260, as

 

authorized under this chapter for programs and activities

 

authorized under this chapter.

 

     (2) Money transferred or appropriated by law to the fund for

 

the purposes of carrying out this chapter or chapter 8C shall be

 

expended or invested by the fund as authorized by law for the

 

following purposes:

 

     (a) 21st century investments.

 

     (b) Grants and loans approved by the commercialization board

 

under section 88k.

 

     (c) Other programs or activities authorized under this

 

chapter.

 

     (d) For promotion of tourism in this state. For fiscal year

 

2010-2011 only, $20,000,000.00 for the promotion of tourism in this

 

state from funds appropriated in the jobs for Michigan investment

 

program - 21st century jobs fund line in section 109 of 2010 PA 191

 

with not less than $1,500,000.00 to be used for the 2010-2011

 

winter advertisement buy. For all funds used for promotion of

 

tourism in this state under this subdivision, the fund shall report

 

to the legislature at the same time and in the same manner as

 

provided in section 89d.

 

     (e) Grants, loans, or other economic assistance under section

 

88r and community revitalization incentives under chapter 8C.

 

     (3) Not more than 4% of the annual appropriation as provided

 

by law from the 21st century jobs trust fund created in the

 

Michigan trust fund act, 2000 PA 489, MCL 12.251 to 12.260, may be

 

used for the purposes of administering the programs and activities

 

authorized under this chapter. However, the fund and the fund board

 

shall not use more than 3% of the annual appropriation for

 

administering the programs and activities authorized under this

 

chapter unless the fund board by a 2/3 vote authorizes the

 

additional 1% for administration. The MEDC may charge actual and

 

reasonable fees for costs associated with loans, grants, or other

 

economic assistance under this chapter. These fees are in addition

 

to an amount of the appropriation used for administering the

 

programs and activities authorized under this chapter.

 

     (4) Not more than 5% $7,250,000.00 of the annual appropriation

 

as provided by law from the 21st century jobs trust fund created in

 

the Michigan trust fund act, 2000 PA 489, MCL 12.251 to 12.260, may

 

be used for business development and business marketing costs. Not

 

less than 80% of the funds committed for business development and

 

business marketing costs shall be targeted to persons or entities

 

outside of this state. No funds may be used for any business

 

development and business marketing effort that includes a reference

 

to or the image or voice of an elected state officer or a candidate

 

for elective state office and that is targeted to a media market in

 

Michigan.

 

     (5) The fund shall not use any money appropriated or

 

transferred for purposes authorized under this chapter to acquire

 

interests in or improve real property. The restriction under this

 

subsection does not prohibit the fund from taking a security

 

interest in real property. The restriction under this subsection

 

applies only to the fund and not to recipients of expenditures or

 

investments under this chapter.

 

     (6) The fund board may select all vendors for all expenditures

 

and for program awards under this chapter by issuing a request for

 

proposal or an alternative competitive process as determined by the

 

fund board. At a minimum, the request for proposal shall require

 

the responding entities to disclose any conflict of interest,

 

disclose any criminal convictions, disclose any investigations by

 

the internal revenue service or any other federal or state taxing

 

body or court, disclose any litigation involving the entity, and

 

maintain records and evidence pertaining to work performed. The

 

fund board shall establish a standard process to evaluate proposals

 

submitted as a result of a request for proposal and appoint a

 

committee to review the proposals. The fund or the fund board shall

 

not appoint or designate any person paid or unpaid to a committee

 

to review proposals if that person has a conflict of interest with

 

any potential vendors as determined by the office of the chief

 

compliance officer established in section 88i.

 

     (7) Application fees received for programs and activities

 

authorized under this chapter or chapter 8C may be used by the fund

 

for administering the programs and activities authorized under this

 

chapter or chapter 8C. The restrictions on expenditures under

 

subsection (3) do not apply to expenditure of application fee

 

revenue under this subsection.