MI SB0242

Creates the "Good Jobs for Michigan Program" that authorizes transfer of withholding tax capture revenues to eligible businesses creating certified new jobs in Michigan with wages meeting or exceeding prosperity region averages.

Establishes eligibility thresholds requiring businesses to create either 3,000 new jobs at standard wage, 500 new jobs at standard wage, or 250 new jobs at 125% of regional wage, excluding retail establishments, sports stadiums, and casinos.

Limits withholding tax capture revenue payments to a maximum of 50% for businesses meeting the 500-job threshold and up to 100% for businesses meeting the 3,000-job or 250-job-at-higher-wage thresholds, with duration of 5-10 years depending on wage levels.

Caps total withholding tax capture revenue commitments at $200,000,000 and limits the fund to no more than 15 new written agreements per calendar year, with a December 31, 2019 deadline for designating new authorized businesses.

Requires the Michigan Strategic Fund to publish detailed annual reporting on all program participants, including business names, job creation numbers, revenue amounts, duration of payments, and compliance status on its website.