MI HB5539

Modifies conditions for expending money from the strategic outreach and attraction reserve fund by requiring compliance with an appropriation authorized by law or legislative transfer under the management and budget act for either the critical industry program or Michigan strategic site readiness program.

Adds requirement that recipients of fund expenditures use only merit-based hiring practices for prospective employees, defined as a reasonable expectation based on objective criteria such as experience, education, and training.

Adds requirement that recipients of fund expenditures use only merit-based internal promotional schemes for existing employees.

Changes language regarding restricted or obligated money at fiscal year-end from "must remain" to "remains" in the strategic outreach and attraction reserve fund without lapsing to the general fund.

Requires the department of labor and economic opportunity to submit an annual report to legislature, governor, and fiscal agencies by March 15 each year on the fund's activities.