MI SB0200

Creates the Michigan Investment Program within the strategic fund to provide grants, loans, and economic assistance to Michigan investment markets and qualified persons with controlling interests in Michigan advancement portfolios.

Limits individual recipients to $1,000,000 per fiscal year and caps total program spending at $2,000,000 per fiscal year.

Requires written agreements with applicants that include conditions, timeframes, repayment provisions for non-compliance, and audit provisions to verify milestone achievement.

Mandates public posting of recipient names, locations, and assistance amounts on the fund's website, with quarterly updates beginning February 1, 2016, and annual reports to the legislature beginning April 10, 2016.

Sunsets the program on September 30, 2020, and requires background checks on applicants through policies established with the Michigan Economic Development Corporation and chief compliance officer.