MI SB0287

Modifies job creation and capital investment requirements for eligible businesses to qualify for tax credits under the Michigan Economic Growth Authority Act, with different thresholds for expanding, relocating, or locating businesses and for businesses in distressed areas, enterprise zones, or qualifying as high-technology or rural businesses.

Adds provisions effective July 1, 2009 requiring eligible businesses to certify in writing they will not knowingly hire or contract with entities that employ unauthorized workers, with credit revocation and repayment remedies for violations.

Establishes preference for eligible businesses that commit to hiring only Michigan residents for facility construction, rehabilitation, development, or renovation, with limited exceptions for federal law compliance and specialized personnel unavailable in the state.

Requires annual reporting by the authority to the Michigan Strategic Fund board and legislature on total capital investment attracted, qualified new jobs created, authorized businesses, credit amounts and duration, and details of good faith hiring and contracting efforts by participating businesses.

Makes the bill's effectiveness conditional on enactment of House Bill 4087 of the 95th Legislature.