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MI SB0397
Bill
AI Summary
- Limits the total number of Next Michigan Development Corporations that may be designated statewide to 6 entities
- Requires the Michigan Strategic Fund board to grant or deny designation applications within 49 days of receipt, with applications automatically approved if no decision is made within that timeframe
- Establishes criteria for designation including unemployment levels, number of participating local governments, demonstrated job creation potential supported by business plans and third-party studies, public and private commitment, and streamlined permitting opportunities
- Restricts the board to designating no more than 2 Next Michigan Development Corporations per calendar year, with an exception allowing 3 designations in a year if at least 1 is located entirely north of 43°49' latitude
- Allows applicants denied designation to amend their applications and resubmit based on specific reasons provided by the board
Legislative Description
Economic development; other; next Michigan development act; modify. Amends sec. 5 of 2010 PA 275 (MCL 125.2955).
Economic development, renaissance zones
Last Action
Assigned Pa 0238'13 With Immediate Effect
12/31/2013
Committee Referrals
Commerce9/26/2013
Economic Development5/29/2013
Full Bill Text
No bill text available