Bill Text: MI SB1027 | 2011-2012 | 96th Legislature | Engrossed

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Bill Title: State financing and management; funds; strategic fund; subject to new Iran economic sanctions act. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 15. TIE BAR WITH: SB 1024'12

Sponsorship: Moderate Partisan Bill (Republican 4-1)

Status: (Engrossed - Dead) 2012-06-12 - Referred To Committee On Banking And Financial Services [SB1027 Detail]

Download: Michigan-2011-SB1027-Engrossed.html

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SB-1027, As Passed Senate, June 12, 2012

 

 

 

 

 

 

 

 

 

 

 

 

SUBSTITUTE FOR

 

SENATE BILL NO. 1027

 

 

 

 

 

 

 

 

 

 

 

 

     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. The fund shall establish requirements to ensure that

 

any recipient of funds, including a loan, a grant, or funding or

 

other assistance for a project, is not an Iran linked business as

 

described in the Iran economic sanctions act.

 

     Enacting section 1. This amendatory act does not take effect

 

unless Senate Bill No. 1024 of the 96th Legislature is enacted into

 

law.