MI HB5414

Renames the "Good Jobs for Michigan" fund to the "H.I.R.E. (High-Wage Incentive for Regional Employment) Michigan" fund throughout the Michigan Strategic Fund Act.

Changes payment timeline language from "within 90 days of receipt" to "not later than 90 days after receipt" of withholding tax capture revenue payment requests.

Adds requirement that 5% of withholding tax capture revenue payments be used for periodic evaluation of economic development incentives in compliance with the Economic Development Incentive Evaluation Act (2018 PA 540).

Requires fund approval before any reorganization, merger, or ownership change of an authorized business can transfer the written agreement.

Bill takes effect only if House Bill No. 5413 is enacted into law.