MI HB5575

Amends the definition of "earned job factor" to establish four tiers of tax credits based on wage rates: $7,500 for jobs at 125% of federal minimum wage, $15,000 for jobs at 150% of federal minimum wage, $25,000 for jobs at 200% of federal minimum wage, and $35,000 for jobs at 125% of federal minimum wage employing veterans, senior citizens, ex-offenders, individuals with disabilities, or MDHHS assistance program participants.

Modifies "full-time equivalent employees" calculation to include salaried positions plus hourly employees compensated at least 150% of federal minimum wage based on 2,080-hour annual threshold.

Clarifies that secured loans and revolving lines of credit qualify as "growth investments" only when the business provides an affidavit confirming denial of similar financing from commercial banks.

Establishes "qualified business" eligibility requirements, limiting participation to businesses with fewer than 150 employees engaged in specified North American Industry Classification System sectors (11, 21, 23, 31-33, 42, 48, 49, 54, 56, 62, 81).

Requires rural jobs and capital investment funds to be regulated by the Securities and Exchange Commission and have invested at least $100,000,000 in nonpublic companies in counties with populations under 50,000.