MI SB1572

Requires the Michigan Economic Growth Authority to use only information supplied by applicants or verified by third parties when determining job eligibility, and denies applications lacking sufficient detail rather than allowing staff to fill in blanks.

Mandates criminal background checks on eligible businesses beginning January 1, 2011, to ensure they have not been convicted of embezzlement, fraud, theft, forgery, bribery, falsification of records, receiving stolen property, or antitrust/procurement law violations.

Requires the authority to include the minimum number of qualified new jobs in any press release identifying an authorized business and to use actual wages paid without annualizing or estimating wages when determining compliance with wage requirements.

Expands reporting requirements to include detailed information on authorized businesses, their ownership structures, capital investments, job creation, and tax credits received, with reports due to legislative committees and fiscal agencies beginning October 1, 2009.

Requires the State Auditor General to audit the authority at least every 2 years and to release audit findings of authorized businesses to the governor and specified legislative committees and fiscal agencies.