Bill Text: MI SB0523 | 2021-2022 | 101st Legislature | 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. TIE BAR WITH: SB 0524'21

Spectrum: Bipartisan Bill

Status: (Introduced) 2021-06-09 - Referred To Committee On Economic And Small Business Development [SB0523 Detail]

Download: Michigan-2021-SB0523-Introduced.html












June 09, 2021, Introduced by Senators NESBITT, ANANICH, BARRETT, BRINKS, BAYER, LAUWERS, CHANG, BUMSTEAD and BULLOCK and referred to the Committee on Economic and Small Business Development.

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, 2021, 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 be a violation of the company-specific subsidy interstate compact act.

Enacting section 1. This amendatory act does not take effect unless Senate Bill No. 524 of the 101st Legislature is enacted into law.