MI SB0418

Establishes a centers of energy excellence program to develop and sustain energy excellence sectors in Michigan through agreements between the Michigan Strategic Fund and qualified entities.

Allocates up to $45,000,000 through fiscal year 2008-2009 and up to $30,000,000 for fiscal years 2009-2010 through 2010-2011 from the 21st Century Jobs Trust Fund for the program.

Restricts grants to for-profit companies for purposes including matching federal funding (up to 50% of project costs), supplementing in-kind contributions, accelerating commercialization of innovative energy technology, and workforce development activities.

Requires center agreements to include participation by at least one qualified business and one institution of higher education or national laboratory, with governance structures, financial commitments, and technology transfer obligations.

Limits administrative costs to no more than 15% of any grant and requires the fund to appoint a centers manager to oversee program administration, evaluate applications, and report on commercialization progress.