Bill Text: MI HB4882 | 2023-2024 | 102nd Legislature | Introduced
Bill Title: Economic development: other; economic incentives to certain foreign countries and entities; prohibit. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 7c.
Spectrum: Partisan Bill (Republican 37-0)
Status: (Introduced) 2023-07-18 - Bill Electronically Reproduced 06/28/2023 [HB4882 Detail]
Download: Michigan-2023-HB4882-Introduced.html
HOUSE BILL NO. 4882
A bill to amend 1984 PA 270, entitled
"Michigan strategic fund act,"
(MCL 125.2001 to 125.2094) by adding section 7c.
the people of the state of michigan enact:
Sec. 7c. (1) Notwithstanding anything to the contrary in this act, the fund shall not provide a grant, loan, or other economic assistance to an adversarial entity.
(2) As used in this section:
(a) "Adversarial entity" means any of the following:
(i) An entity included on the Entity List.
(ii) Any person that has sworn an oath of loyalty to an entity on the Entity List.
(iii) A governmental entity of a nonmarket economy country or a state sponsor of terrorism.
(iv) Any person that has sworn an oath of loyalty to a governmental entity of a nonmarket economy country or a state sponsor of terrorism.
(b) "Entity List" means the Entity List published by the Bureau of Industry and Security under the United States Department of Commerce, 15 CFR part 744, supplement no. 4.
(c) "Nonmarket economy country" means any country the United States Department of Commerce determines does not operate on market principles of cost or pricing structures, so that sales of merchandise in the country do not reflect the fair value of merchandise.
(d) "State sponsor of terrorism" means that term as defined in 48 CFR 225.772-1.
