HOUSE BILL NO. 5588

March 05, 2020, Introduced by Reps. Steven Johnson, Hornberger and Reilly 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 15.

the people of the state of michigan enact:

Sec. 15. (1) Beginning October 1, 2019, notwithstanding any other provision of this act, the fund shall not delegate any duties to, provide funding for, or otherwise assist the Michigan economic development corporation.

(2) Beginning October 1, 2019, 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 receives any funding from the Michigan economic development corporation.