MI HB5461

Requires the fund to include loan modifications on its website, specifically noting if the number of jobs or new jobs has been reduced in any modification made under section 88r.

Mandates that if a grant, loan, or other economic assistance is modified and the number of qualified new jobs is reduced, the assistance amount shall be proportionally reduced to match the job reduction.

Clarifies that contract, agreement, or loan documentation posted on the fund's website must include any modifications made after the effective date of this amendatory act for financial assistance under sections 88r and 90b.

Adds section 88r(7) to establish proportional reduction requirements for economic assistance when qualified new jobs are reduced in modified agreements.

Restructures section 88r definitions subsection, renumbering it from (7) to (8) to accommodate the new job reduction provision.