MI HB4998

Establishes an entrepreneur-in-residence pilot project within the Michigan Strategic Fund to improve state government outreach and coordination with the private sector on entrepreneurship and small business issues.

Authorizes the Strategic Fund president to appoint up to 10 entrepreneurs-in-residence per year, selected based on demonstrated success in their field, work with entrepreneurs, and product development and commercialization.

Requires appointees to serve without compensation for a maximum of 2 years and submit disclosure statements listing income sources and business ownership interests for themselves and immediate family members.

Assigns entrepreneurs-in-residence to improve state program outreach, identify inefficient economic development programs, provide recommendations for improvements, facilitate educational forums, and offer mentorship to small businesses and entrepreneurs.

Ends the appointment authority on September 30, 2016, with the act taking effect 90 days after enactment (March 23, 2015).