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HB 4772

Economic development: other; certain funds; require to be returned to the general fund. Amends sec. 4 of 2000 PA 489 (MCL 12.254). TIE BAR WITH: HB 4771'25

2025-2026 Regular Session Introduced by Ann Bollin

HB 4772 tightens control of the Strategic Outreach and Attraction Reserve Fund: limits expenditures to two programs, requires annual reports, and designates DLEO as administrator.

bill electronically reproduced 08/19/2025
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Bill Summary · HB 4772

Summary — HB 4772 (103rd Legislature)

Status: Introduced (Aug 19, 2025); referred to Committee on Appropriations. Tie bar: HB 4772 does not take effect unless HB 4771 of the 103rd Legislature is enacted.

Purpose / Intent

HB 4772 amends section 4 of the Michigan Trust Fund Act (2000 PA 489; MCL 12.254) to clarify the creation, administration, permissible uses, and year‑end treatment of the Strategic Outreach and Attraction Reserve Fund. The bill narrows how money in that fund may be spent and adds reporting and administration provisions.

Key provisions

  • Creates/affirms the Strategic Outreach and Attraction Reserve Fund in the Department of Labor and Economic Opportunity (DLEO).
  • Deposits: directs the State Treasurer to deposit money and other assets received from state appropriations or any other source into the fund.
  • Investments: directs the State Treasurer to invest fund assets; interest and earnings must be deposited back into the fund.
  • Lapse rule: clarifies that money in the fund that is restricted, obligated, or committed at fiscal‑year close remains in the fund and does not lapse to the General Fund — with an express reference to the Michigan Strategic Fund Act (1984 PA 270, MCL 125.2001–125.2094) as an exception.
  • Administrator/audit: designates DLEO as the fund administrator for purposes of audits of the fund.
  • Permitted expenditures: money may be expended only (a) pursuant to an appropriation authorized by law, or (b) by a legislative transfer under section 393(2) of the Management and Budget Act (1984 PA 431, MCL 18.1393), and then only for:
    • the Critical Industry Program (MCL 125.2088s), and
    • the Michigan Strategic Site Readiness Program (MCL 125.2088t).
  • Annual reporting: requires DLEO to transmit a report on the fund’s activities to each legislator, the governor, legislative clerks, and fiscal agencies by March 15 each year.
  • Conditional enactment: includes an explicit enactment clause making the amendment effective only if HB 4771 is enacted.

Who or what is affected

  • Department of Labor and Economic Opportunity (administrator and reporter).
  • State Treasurer (depositing and investing fund assets).
  • Programs operated under the Michigan Strategic Fund Act (specifically the Critical Industry Program and Strategic Site Readiness Program).
  • The General Fund, to the extent the bill changes lapse treatment for restricted/committed amounts.
  • Legislature and executive branch (annual reporting recipients; appropriation/transfer authority).

Fiscal and procedural notes

  • The bill does not appropriate new dollars; it governs the handling, investment, allowable uses, and reporting of monies placed in the Strategic Outreach and Attraction Reserve Fund.
  • Expenditure from the fund is limited to statutory appropriation or a legislative transfer and limited to two specified programs, which constrains flexibility for other economic development uses.
  • The bill is tied to HB 4771; it will not take effect unless HB 4771 is enacted.
  • Current status: introduced Aug 19, 2025, and referred to the House Appropriations Committee.

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

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