HB 4553 - Michigan Corporate Responsibility Act

• Requires business entities to affirm in writing compliance with six conditions before receiving economic development benefits, including no criminal convictions in the preceding 15 years related to state contracts and no civil liability findings negatively reflecting on business integrity.

• Prohibits use of state funds or economic development benefits to induce businesses to leave Michigan or to contribute to violations of internationally recognized workers' rights in other countries.

• Bars businesses incorporated in designated tax haven countries (including Cayman Islands, Bermuda, and Monaco) after September 11, 2001 from receiving benefits while maintaining the United States as their principal stock trading market.

• Requires businesses to affirm compliance with federal pension and retirement plan funding obligations for employees.

• Mandates criminal records checks through the FBI for officers, directors, managerial employees, and 20%+ stakeholders before granting economic development benefits, with state police authority to charge fees for conducting checks.