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MI SB0654
Bill
Status
10/30/2025
Primary Sponsor
Thomas Albert
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AI Summary
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Transfers duties of the Michigan Economic Development Corporation and Michigan Strategic Fund under the Land Bank Fast Track Act to the newly created Bureau of Fair Competition and Free Enterprise
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Replaces the MEDC chief executive officer on the State Land Bank Authority board with the director of the Bureau of Fair Competition and Free Enterprise
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Requires existing intergovernmental agreements between land bank authorities and MEDC/Michigan Strategic Fund to transfer to the new bureau, which acquires all rights, properties, obligations, and duties under those agreements
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Allows land bank authorities to enter into new intergovernmental agreements with the bureau for joint exercise of powers and economic development services
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Bill is contingent on enactment of Senate Bill 631, which would create the Economic Development Fair Competition and Free Enterprise Act
Legislative Description
Economic development: other; land bank fast track act; amend to reflect elimination of the Michigan strategic fund. Amends secs. 3, 16 & 23 of 2003 PA 258 (MCL 124.753 et seq.). TIE BAR WITH: SB 0631'25
Economic development: other
Last Action
Referred To Committee On Government Operations
10/30/2025