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SB 473

Economic development: Michigan strategic fund; more jobs for Michigan program; create. Amends secs. 9 & 90j of 1984 PA 270 (MCL 125.2009 & 125.2090j); adds ch. 8F & repeals 2007 PA 36 (MCL 208.1101 - 208.1519) & 1995 PA 24 (MCL 207.801 - 207.810).

2025-2026 Regular Session Introduced by Sam Singh

Michigan bill consolidates economic incentive programs under revised Strategic Fund framework, repealing two prior programs to create new "More Jobs for Michigan" initiative.

REASSIGNED TO COMMITTEE ON REGULATORY AFFAIRS
#economicdevelopment:michiganstrategicfund #law:sunset
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Bill Summary · SB 473

Legislative bill overview

SB 473 amends Michigan's economic development framework by modifying the Michigan Strategic Fund statute and creating a new "More Jobs for Michigan" program. The bill repeals two existing economic incentive programs (from 2007 PA 36 and 1995 PA 24) and consolidates them under a revised framework in the 1984 Public Act 270.

Why is this important

Michigan's economic development incentive programs directly affect business investment decisions, job creation, and state tax revenue. Changes to these programs alter how the state competes for corporate investment and influence which industries and regions receive financial support, impacting both economic growth and state finances.

Potential points of contention

  • Unclear program details: The bill's legislative language references creating "ch. 8F" but doesn't publicly specify the new program's eligibility criteria, incentive amounts, or target industries, making it difficult to assess actual policy changes
  • Repeal of existing programs: Eliminating two established incentive programs may disrupt ongoing business commitments or leave companies with changed terms, while beneficiaries of replaced programs may lose access to incentives
  • Fiscal impact unknown: Without program specifications, the cost to the state budget and potential return on investment cannot be evaluated; consolidation could increase or decrease overall spending

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

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