Economic development: Michigan strategic fund; Michigan strategic fund; eliminate, and create the economic development fair competition and free enterprise act. Creates new act & repeals (See bill).
Impact
The legislation is intended to streamline and strengthen the state's approach to economic development by transferring the powers, duties, and functions of the abolished entities to the newly created bureau. It emphasizes the need for fair competition and free enterprise, ensuring that any economic incentives provided result in measurable benefits for the state's economy. This shift signifies a possible change in how economic initiatives are structured and could provide new opportunities for businesses operating within Michigan.
Summary
Senate Bill 631, also known as the 'Economic Development Fair Competition and Free Enterprise Act,' aims to reorganize the management of economic development within Michigan by abolishing the Michigan Strategic Fund and the Michigan Economic Development Corporation. The bill establishes a new entity, the Bureau of Fair Competition and Free Enterprise, which is tasked with overseeing job creation and economic growth initiatives. This move is based on the assertion that existing programs under the previous organizations have not been effective in promoting economic development in the state.
Contention
Notably, the bill raises concerns regarding the effectiveness of the changes proposed. Critics may argue that dismantling established organizations might disrupt ongoing projects and contracts that local governments and businesses rely upon. Additionally, the transition could lead to uncertainties in funding and resources during the establishment of the new bureau. While proponents champion the need for reform, their arguments hinge on the assumption that previous measures were inadequate, which may not be universally accepted among stakeholders invested in Michigan's economic landscape.
Economic development: other; Michigan economic growth authority act; amend to reflect elimination of the Michigan strategic fund. Amends sec. 3 of 1995 PA 24 (MCL 207.803) & adds sec. 3a. TIE BAR WITH: SB 0631'25
Economic development: other; Michigan strategic fund centers; amend to reflect elimination of the Michigan strategic fund. Amends title & sec. 2 of 2006 PA 317 (MCL 125.1972). TIE BAR WITH: SB 0631'25
Economic development: Michigan strategic fund; Michigan strategic fund act; amend to reflect elimination of the strategic outreach and attraction reserve fund, Michigan strategic site readiness program, and critical industry program. Amends sec. 9 of 1984 PA 270 (MCL 125.2009). TIE BAR WITH: HB 5294'25
Economic development: other; economic development incentive evaluation act; amend to reflect elimination of the Michigan strategic fund. Amends secs. 3, 5 & 7 of 2018 PA 540 (MCL 18.1753 et seq.). TIE BAR WITH: SB 0631'25
Economic development: other; Michigan next energy authority act; amend to reflect elimination of the Michigan strategic fund. Amends sec. 2 of 2002 PA 593 (MCL 207.822). TIE BAR WITH: SB 0631'25
Economic development: other; Michigan BIDCO act; amend to reflect elimination of the Michigan strategic fund. Amends secs. 104 & 105 of 1986 PA 89 (MCL 487.1104 & 487.1105). TIE BAR WITH: SB 0631'25
Economic development: other; use tax act; amend to reflect elimination of the Michigan strategic fund. Amends sec. 4cc of 1937 PA 94 (MCL 205.94cc). TIE BAR WITH: SB 0631'25
Economic development: other; economic development corporations act; amend to reflect elimination of the Michigan strategic fund. Amends sec. 23 of 1974 PA 338 (MCL 125.1623). TIE BAR WITH: SB 0631'25
Economic development: other; general sales tax act; amend to reflect elimination of the Michigan strategic fund. Amends sec. 4ee of 1933 PA 167 (MCL 205.54ee). TIE BAR WITH: SB 0631'25
Economic development: other; state essential services assessment act; amend to reflect elimination of the Michigan strategic fund. Amends secs. 3 & 9 of 2014 PA 92 (MCL 211.1053 & 211.1059). TIE BAR WITH: SB 0631'25
Economic development: other; strategic advisory board; create, and provide for the development of strategic plans. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding secs. 9a & 9b. TIE BAR WITH: SB 0213'25
Construction: code; requirement for the state construction code to consist of certain international codes; eliminate and create an advisory committee. Amends sec. 4 of 1972 PA 230 (MCL 125.1504).
Economic development: other; strategic advisory board; create, and provide for the development of strategic plans. Amends title of 1984 PA 270 (MCL 125.2001 - 125.2094) & adds sec. 9c. TIE BAR WITH: SB 0214'25
Economic development: other; natural resources and environmental protection act; amend to reflect elimination of the Michigan strategic fund. Amends secs. 512, 11550, 20104a, 72103 & 72104 of 1994 PA 451 (MCL 324.512 et seq.). TIE BAR WITH: SB 0631'25
Gaming: horse racing; Michigan agriculture and equine industry development fund; modify. Amends secs. 2 & 20 of 1995 PA 279 (MCL 431.302 & 431.320). TIE BAR WITH: HB 4346'25
Economic development: other; state essential services assessment act; amend to reflect elimination of the Michigan strategic fund. Amends secs. 3 & 9 of 2014 PA 92 (MCL 211.1053 & 211.1059). TIE BAR WITH: SB 0631'25
Environmental protection: pollution prevention; coal tar sealant or other high-PAH sealant for pavement; prohibit use and sale. Amends 1994 PA 451 (MCL 324.101 - 324.90106) by adding pt. 149.