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SB 651

Economic development: other; Michigan economic growth authority act; amend to reflect elimination of the Michigan strategic fund. Amends sec. 3 of 1995 PA 24 (MCL 207.803) & adds sec. 3a. TIE BAR WITH: SB 0631'25

2025-2026 Regular Session Introduced by Thomas Albert and 1 co-sponsor

Michigan eliminates the Strategic Fund from its economic development authority, restructuring state business incentive mechanisms with provisions detailed in tied SB 631.

REFERRED TO COMMITTEE ON GOVERNMENT OPERATIONS
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Bill Summary · SB 651

Legislative bill overview

SB 651 amends Michigan's 1995 Economic Growth Authority Act to eliminate the Michigan Strategic Fund and restructure related economic development provisions. The bill appears designed to consolidate or streamline state economic development authority structures by removing one funding mechanism while establishing new provisions under section 3a.

Why is this important

The Michigan Strategic Fund has historically been used to finance economic development projects, business incentives, and regional growth initiatives. Eliminating it represents a significant shift in how the state structures and allocates economic development resources, potentially affecting business incentive programs, local economic projects, and job creation efforts across Michigan.

Potential points of contention

  • Program continuity and funding: Unclear whether existing projects funded through the Strategic Fund will maintain support or face disruption during the transition to new mechanisms
  • Local economic impact: Communities reliant on Strategic Fund allocations for development projects may experience reduced state support if replacement funding is insufficient
  • Tie-bar dependency: The bill's effectiveness depends on passage of SB 631, creating legislative interdependency that could complicate passage of either measure independently

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

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