Loading chat...
MI HB5243
Bill
Status
11/6/2025
Primary Sponsor
Steve Carra
Click for details
AI Summary
-
Abolishes the Michigan Economic Development Corporation (MEDC) by requiring the Michigan Strategic Fund to withdraw from the interlocal agreement that created the MEDC within 30 days of the bill's effective date
-
Prohibits the Michigan Strategic Fund from delegating any powers to, providing funding for, or utilizing the MEDC in any capacity
-
Transfers all powers, duties, functions, records, and state property from the MEDC to the Michigan Strategic Fund
-
Removes the MEDC chief executive officer from the Michigan Strategic Fund's board of directors, reducing the board from its current composition
-
Bars the Strategic Fund from financing or supporting any project, endeavor, or person that receives funding from the MEDC
Legislative Description
Economic development: other; Michigan economic development corporation; abolish. Amends secs. 4, 5 & 7 of 1984 PA 270 (MCL 125.2004 et seq.); adds sec. 15 & repeals sec. 29e of 1984 PA 270 (MCL 125.2029e).
Economic development: other
Last Action
Bill Electronically Reproduced 11/06/2025
11/12/2025