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SB 664

Economic development: other; Julian-Stille value-added act; amend to reflect elimination of the Michigan strategic fund. Amends sec. 2 of 2000 PA 322 (MCL 285.302). TIE BAR WITH: SB 0631'25

2025-2026 Regular Session Introduced by Thomas Albert

SB 664 removes Michigan Strategic Fund references from state economic development law following the fund's elimination, updating the Julian-Stille value-added act accordingly.

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Bill Summary · SB 664

Legislative bill overview

SB 664 amends Michigan's Julian-Stille value-added act to remove references to the Michigan Strategic Fund, which has been eliminated. This is a technical cleanup bill that updates existing economic development legislation to reflect current state agency structure and eliminates outdated funding mechanisms and reporting requirements tied to the defunct fund.

Why is this important

The Michigan Strategic Fund was a competitive grant program designed to attract business investment and job creation. Removing references to a non-existent fund prevents confusion in statute, eliminates impossible compliance requirements, and signals a shift in how Michigan structures economic development incentives going forward. The tie-bar with SB 631 suggests coordinated legislation to comprehensively overhaul the state's economic development approach.

Potential points of contention

  • Loss of competitive grant funding: Eliminating the Strategic Fund removes a mechanism that previously distributed discretionary economic development grants, potentially reducing state flexibility in attracting major business projects
  • Transition clarity: Businesses and economic development officials may need clarity on what replaces the Strategic Fund's functions and whether existing commitments are honored
  • Regional equity concerns: If the Fund served underrepresented regions differently, its elimination could disproportionately affect rural or economically disadvantaged areas depending on replacement mechanisms

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

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