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SB 579

Economic development: Michigan strategic fund; good jobs for Michigan program; modify. Amends secs. 9, 90g & 90h of 1984 PA 270 (MCL 125.2009 et seq.). TIE BAR WITH: SB 0580'23

2023-2024 Regular Session Introduced by Mary Cavanagh and 1 co-sponsor

SB 579 amends Michigan's Strategic Fund and Good Jobs program to modify business tax incentive eligibility and performance requirements for economic development.

referred to second reading
#economicdevelopment:michiganstrategicfund #law:sunset
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Bill Summary · SB 579

Legislative bill overview

SB 579 modifies Michigan's economic development framework by amending the Michigan Strategic Fund provisions within the 1984 Public Act 270. The bill adjusts the "Good Jobs for Michigan" program, which provides tax incentives and financial assistance to businesses that meet job creation and investment requirements. The specific amendments to sections 9, 90g, and 90h are not detailed in the provided information, but the tie-bar reference to SB 580 suggests coordinated changes to the state's business incentive structure.

Why is this important

Michigan's economic development programs distribute significant state resources to influence business location and expansion decisions. Changes to these programs directly affect state tax revenue, job creation outcomes, and which industries or regions receive preferential treatment. The amendments likely impact both the eligibility criteria for businesses seeking incentives and the performance metrics used to measure program success.

Potential points of contention

  • Tax incentive effectiveness and accountability: Questions about whether modified incentives represent good returns on taxpayer investment versus corporate welfare, and what performance metrics will measure success
  • Geographic and sectoral equity: Concerns that program changes may disproportionately benefit certain regions, industries, or company sizes while disadvantaging others
  • Fiscal impact uncertainty: The specific budget implications depend on amendment details; modifications could increase or decrease state expenditures tied to economic development goals

Compiled from official sources — confirm details with the bill’s official record.

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