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MI HB5411
Bill
Status
12/18/2025
Primary Sponsor
Jay DeBoyer
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AI Summary
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Requires the Michigan Strategic Fund to post on its website any modifications to contracts or agreements for financial assistance under certain programs, clearly stating if the number of jobs or new jobs has been reduced
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Mandates that when a grant, loan, or other economic assistance is modified to reduce the number of qualified new jobs, the financial assistance must be reduced proportionally to match the job reduction
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Applies the proportional reduction requirement to modifications made under the Michigan Business Development Program (section 88r)
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Expands reporting requirements for loans made under sections 88r and 90b to include descriptions of any loan modifications made after the bill's effective date
Legislative Description
Economic development: Michigan strategic fund; requirements related to the modification of a grant, loan, or other economic assistance with an existing qualified business; provide for. Amends secs. 9 & 88r of 1984 PA 270 (MCL 125.2009 & 125.2088r).
Economic development: Michigan strategic fund
Last Action
Bill Electronically Reproduced 12/18/2025
12/23/2025