MI SB0854

Allows Michigan to enter into the Company-Specific Subsidy Interstate Compact with other Midwest states to restrict the offering of company-specific subsidies.

Member states agree not to offer company-specific subsidies (grants or tax incentives) to particular companies for headquarters, manufacturing facilities, office space, or other real estate developments.

Exempts existing company-specific subsidies from the agreement, but treats any changes, renewals, or reenactments of existing subsidies as new subsidies subject to the compact restrictions.

Establishes an Interstate Company-Specific Subsidy Board composed of 5 representatives per member state (including the chief executive officer and legislative leaders) that convenes annually to evaluate and suggest improvements to the compact.

Takes effect only if Senate Bill No. 855 of the 102nd Legislature is also enacted into law.