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SB 662

Economic development: other; 1993 PA 69; amend to reflect elimination of the Michigan strategic fund. Amends secs. 4 & 7a of 1993 PA 69 (MCL 247.954 & 247.957a). TIE BAR WITH: SB 0631'25

2025-2026 Regular Session Introduced by Thomas Albert

SB 662 removes outdated Michigan Strategic Fund references from state economic development law, reflecting the fund's elimination and consolidating related statutory provisions.

REFERRED TO COMMITTEE ON GOVERNMENT OPERATIONS
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Bill Summary · SB 662

Legislative bill overview

SB 662 amends the 1993 Public Act 69 to eliminate references to the Michigan Strategic Fund, which appears to be a defunct or consolidated economic development entity. The bill modifies sections 4 and 7a of the existing law and is tied to companion legislation SB 631, suggesting a coordinated legislative effort to clean up outdated statutory language.

Why is this important

This bill addresses technical/housekeeping updates to Michigan's economic development statutes. Removing references to non-functional funds prevents confusion in how state resources are allocated and ensures the legal code accurately reflects current institutional structures. However, the elimination of the Strategic Fund itself (if occurring via companion legislation) could represent a significant shift in Michigan's economic development strategy.

Potential points of contention

  • Lack of detail on fund elimination rationale: The bill summary doesn't explain why the Strategic Fund is being eliminated or what replaces its functions, making it difficult to assess whether this is genuine reform or a budget cut
  • Companion bill dependency: The tie-bar to SB 631 means this bill's full impact cannot be evaluated independently; the related bill's contents are essential context
  • Stakeholder impact unclear: No information provided on which economic development initiatives, businesses, or regions may be affected by Strategic Fund elimination

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

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