SB 1015 Summary

• Restructures the definition of "economic development project" and "project" in the Michigan Strategic Fund Act by converting semicolon-separated lists into numbered subsections for clarity and organization.

• Expands the definition of "port facilities" to explicitly exclude international bridges and international tunnels, and reorganizes the extensive list of facility types into a numbered format.

• Adds definitions for "UFLPA entity list" (the consolidated register under the Uyghur Forced Labor Prevention Act) and "Uyghur forced labor prevention act" (Public Law 117-78).

• Prohibits the Michigan Strategic Fund from providing grants, loans, or other economic assistance to any person on the UFLPA entity list.

• Requires all new and existing written agreements for economic assistance to include provisions that persons added to the UFLPA entity list must forfeit future payments and reimburse the fund 100% of previous payments plus a 10% penalty; unamended existing agreements become void and unenforceable.