MI SB0490

Prohibits public officers (elected officials and those appointed to fill elected vacancies) in Michigan from entering into nondisclosure agreements that directly or indirectly use public funds

Defines nondisclosure agreements broadly to include any contract keeping confidential information about economic development projects such as job creation numbers, investment amounts, site locations, project timelines, and identity of companies involved

Covers economic development incentives including tax incentives, tax abatements, bonds, loans, grants, rebates, tax increment financing, and other financial assistance from the state or local governments

Any agreement or contract provision violating this act is declared against public policy and void and unenforceable

Applies to agreements entered into, amended, extended, or renewed after the act's effective date