MI HB5820

Requires the Michigan Strategic Fund to develop a community investment pilot program promoting collaboration between nonprofit organizations, businesses, and residents to assist distressed areas and low-income populations in neighborhoods and commercial corridors.

Establishes that the fund must create an application, approval, and compliance process for the board to certify community investment plans and determine eligibility for taxpayer certificates under MCL 206.280.

Directs the fund to post the application, approval, and compliance process on its website for public access.

Defines "community investment plan," "qualified investment," and "qualified organization" as those terms defined in Section 280 of the Income Tax Act of 1967 (MCL 206.280).