MI SB0951

Prohibits the Michigan Strategic Fund from providing grants, loans, or economic assistance to "disqualified persons," including countries of concern, entities incorporated or headquartered in those countries, and entities on U.S. Department of Commerce adversarial or military end-user lists.

Defines "countries of concern" as those designated by the U.S. Department of Defense as special concern countries, state sponsors of terror, or military end-user countries under federal regulations.

Voids and makes unenforceable any written agreements the fund previously entered into with disqualified persons, and prohibits future fund disbursements to such entities regardless of prior term sheets or allocated funds.

Applies disqualification rules to both the Critical Industry Program (section 88s) and the Michigan Strategic Site Readiness Program (section 88t), blocking assistance to disqualified applicants and end users.

Makes technical corrections to existing statute language, including clarifying that "security interest" references section 1201 of the Uniform Commercial Code and replacing archaic phrasing throughout sections 88s and 88t.