Bill Text: MI HB5867 | 2019-2020 | 100th Legislature | Introduced
Bill Title: Economic development: Michigan strategic fund; employee compensation rate for companies receiving funds under the Michigan strategic fund; establish. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 16.
Spectrum: Partisan Bill (Democrat 20-0)
Status: (Introduced - Dead) 2020-06-23 - Bill Electronically Reproduced 06/18/2020 [HB5867 Detail]
Download: Michigan-2019-HB5867-Introduced.html
HOUSE BILL NO. 5867
June 18, 2020, Introduced by Reps. Hammoud,
Camilleri, Hood, Pagan, Cynthia Johnson, Peterson, Cherry, Sneller, Brenda
Carter, Guerra, Sowerby, Yancey, Gay-Dagnogo, Hope, Kennedy, Pohutsky,
Tyrone Carter, Ellison, Bolden and Stone and referred to the Committee on
Commerce and Tourism.
A bill to amend 1984 PA 270, entitled
"Michigan strategic fund act,"
(MCL 125.2001 to 125.2094) by adding section 16.
the people of the state of michigan enact:
Sec. 16. (1) Beginning October 1, 2020, except as
otherwise provided in subsection (2), the fund shall establish requirements to
ensure that a business that receives a loan, a grant, or funding or other assistance
for a program or activity described in chapter 8 or for a project under this
act pays an hourly wage of not less than $15.00 per hour for each full-time and
part-time employee or the equivalent if an employee is paid by salary, as
determined by the fund.
(2) Subsection (1) does not apply to a business that meets 1 or more of the following as determined by the fund:
(a) Has fewer than 50 employees.
(b) Is a recipient of funds, including a loan, a grant, or funding or other assistance for a program or activity described in chapter 8 or for a project under this act, in an amount of $1,000,000.00 or less.
