Economic development: Michigan strategic fund; allowable use of funds; include small businesses. Amends sec. 9 of 1984 PA 270 (MCL 125.2009) & adds ch. 8F.

Summary

The bill revises the Michigan Strategic Fund’s reporting requirements, forcing the fund to disclose more granular data on financial assistance, job creation, employee salaries, loan status, bankruptcy notices and investments in venture‑capital, mezzanine and private‑equity funds. It also requires an annual audit by the auditor general and public posting of the reports. The changes impact the fund, its aid recipients, small‑business programs, and the legislators who oversee economic‑development spending.

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