MI HB4696

Exempts Michigan Strategic Fund bonds and notes from registration requirements under both the 1964 Uniform Securities Act and the 2008 Uniform Securities Act (2002 PA 551).

Clarifies that bonds and notes issued by the fund are not subject to the Revised Municipal Finance Act (2001 PA 34) and do not require filing under securities laws.

Authorizes the fund to issue bonds and notes for project acquisition, loans, grants, loan guarantees, working capital, and related administrative costs including engineering, architectural, legal, and accounting fees.

Permits bond issuance with terms up to 50 years, at rates determined by board resolution, with provisions for puts, repurchases, letters of credit, and other collateral arrangements.

Maintains tax exemption on fund property, operations, and bond interest at state and local levels, except for estate, gift, and inheritance taxes.