MI SB0272

Amends the Michigan Strategic Fund Act to establish a new advisory committee on port facilities with 9 members appointed by the governor, including representatives from five geographic regions of Michigan, agricultural business, aggregate supply, and nominees from legislative leaders.

Expands the definition of "green chemistry" in the fund's definitions section with 12 detailed principles covering waste prevention, safer chemical design, renewable feedstocks, catalytic reactions, and accident minimization.

Retains the Michigan Strategic Fund as an autonomous entity within the Department of Treasury with independent exercise of statutory powers and duties similar to the Michigan Employment Security Commission.

Authorizes the fund to issue bonds and notes for up to 50 years with flexible terms including variable interest rates, put agreements, letters of credit, and interest rate swaps as determined by board resolution.

Exempts fund bonds, notes, and property from state and local taxation (except estate, gift, and inheritance taxes) and designates them as legal investments for public bodies, insurance companies, banks, fiduciaries, and other authorized investors.