MI HB6064

Creates Michigan Community Revitalization Program under the Michigan Strategic Fund to provide incentives for eligible investments on eligible property, with applications reviewed using 18 specified criteria including job creation, historic preservation, and sustainable development.

Limits community revitalization incentives to 25% of eligible investment up to $10 million (50% for municipalities with population of 15,000 or less), with individual loans capped at $10 million and grants capped at $1.5 million per project.

Establishes Rural Jobs and Capital Investment Fund program allowing approved investment entities to receive grants, loans, or economic assistance with matching private contributions, effective through 2029 and limited to $30 million per calendar year.

Requires rural jobs and capital investment funds to invest 100% of their investment authority in growth investments within 3 years, maintain investments for 6 years, and submit annual reports documenting investments, job creation, and compliance with program requirements.

Creates Rural Jobs and Capital Investment Creation Fund within state treasury to distribute funds to approved rural investment entities, with repayment required if funds fail to meet investment obligations or violate program restrictions.