MI HB5753

Creates a Michigan community investment pilot program within the Michigan strategic fund to promote partnerships among nonprofit organizations, businesses, and residents in distressed areas and low-income neighborhoods and commercial corridors.

Requires the fund to establish parameters and criteria for the board to approve community investment plans submitted by qualified organizations.

Directs the fund to create an application, approval, and compliance process for certifying community investment plans and issuing certificates to taxpayers making qualified investments in qualified organizations under the income tax act of 1967.

Mandates the fund post the application, approval, and compliance process on its website.

Takes effect only if Senate Bill No. ____ or House Bill No. 5752 is enacted into law.