MI HB5866

Prohibits local units of government and their negotiators from entering into nondisclosure agreements or contracts with confidentiality clauses for economic development projects receiving state or local financial assistance.

Defines "economic development project" as any project receiving tax incentives, tax abatements, bonds, loans, grants, rebates, or other financial assistance from the state or political subdivisions.

Defines "local unit of government" to include school districts, community colleges, intermediate school districts, cities, villages, townships, counties, and other politically subdivided authorities providing local governmental services.

Prohibits agreements that restrict parties from disclosing, discussing, describing, or commenting on contract terms or provisions.

Applies to all contracts entered into, amended, extended, or renewed on or after the bill's effective date.