MI SB0270

Amends definitions in the Michigan strategic fund law to clarify terms related to "competitive edge technology," including life sciences, advanced automotive and manufacturing technology, alternative energy technology, and homeland security and defense technology.

Specifies that the fund board determines annual allocation of money for authorized programs from the 21st century jobs trust fund and that expenditures must provide for repayment for breach of written agreements or failure to meet measurable outcomes.

Limits administrative costs to no more than 4% of annual appropriations (3% without special authorization) and caps business development and marketing costs at 5% of annual appropriations from the 21st century jobs trust fund.

Prohibits the fund from using appropriated money to acquire or improve real property, though security interests in real property are permitted.

Requires the fund board to use competitive request for proposal processes for vendor selection and Michigan promotion program expenditures exceeding $250,000, with disclosure requirements for conflicts of interest, criminal convictions, and litigation history.

Prohibits Michigan promotion program funds from featuring elected officials, appointed state employees, or candidates for office in media markets within the state.