Bill Text: MI SB0855 | 2023-2024 | 102nd 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 0854'24
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced) 2024-05-01 - Referred To Committee On Economic And Community Development [SB0855 Detail]
Download: Michigan-2023-SB0855-Introduced.html
SENATE BILL NO. 855
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, 2024, 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 violate the company-specific subsidy interstate compact act.
Enacting section 1. This amendatory act does not take effect unless Senate Bill No. 854 of the 102nd Legislature is enacted into law.
