MI SB0481

Replaces all references to "procurement technical assistance center" with "APEX Accelerator" throughout the Michigan defense center statute.

Michigan defense center shall focus on job creation and retention from homeland security and defense contracts, coordinating with APEX Accelerators to maximize business opportunities for small businesses (fewer than 400 employees) in the state.

Requires the Michigan defense center to prioritize bringing defense and homeland security business opportunities to municipalities most affected by manufacturing layoffs and set performance objectives for increasing defense contracts awarded to Michigan-based businesses.

Entities receiving grants, loans, or funding from the Michigan defense center must report annually on how funds were used and the number and amount of defense or homeland security contracts received in the preceding year.

Updates cross-reference in statute from MCL 12.260 to MCL 12.262 regarding the 21st century jobs trust fund under the Michigan trust fund act.