WeVote
Log In

Bill

Bill

HB 4771

Economic development: other; certain funds directed to SOAR or CIP; require to be returned to the general fund. Amends secs. 88s & 88t of 1984 PA 270 (MCL 125.2088s & 125.2088t). TIE BAR WITH: HB 4773'25

2025-2026 Regular Session Introduced by Ann Bollin

Michigan bill redirects economic development funds (SOAR/CIP) back to general fund, affecting local development projects and business incentive programs.

bill electronically reproduced 08/19/2025
#economicdevelopment:other
0
WeVote Research Nonpartisan
Bill Summary · HB 4771

Legislative bill overview

HB 4771 amends Michigan's Local Development Financing Act to require that certain funds previously directed to SOAR (State Opportunity Allowance Relief) or CIP (Capital Improvement Program) initiatives be redirected back to the state general fund. The bill is tied to HB 4773, suggesting coordinated changes to economic development financing mechanisms.

Why is this important

This bill affects how Michigan allocates tax revenue between economic development programs and general state operations. Redirecting funds to the general fund could impact local economic development projects, business incentive programs, and community infrastructure investments while potentially freeing resources for other state priorities like education, health services, or deficit reduction.

Potential points of contention

  • Economic development impact: Local governments and businesses relying on SOAR/CIP funding may face reduced resources for development projects and job creation initiatives
  • Revenue allocation philosophy: Disagreement over whether economic development incentives generate sufficient return on investment to justify dedicated funding versus general fund allocation
  • Coordination with HB 4773: The tie-bar relationship means both bills must pass together, creating uncertainty about the full scope of changes to development financing

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

Sign in to ask a question.