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SB 486

Economic development: other; SOAR fund; eliminate. Amends sec. 2 of 2000 PA 489 (MCL 12.252) & repeals sec. 4 of 2000 PA 489 (MCL 12.254). TIE BAR WITH: SB 488'25

2025-2026 Regular Session Introduced by Thomas Albert

Overview: SB 486, Economic development: other; SOAR fund; eliminate. Amends sec. 2 of 2000 PA 489 (MCL 12.252) & repeals sec. 4 of 2000 PA 489 (MCL 12.254). Tie bar with SB 488'25.

REFERRED TO COMMITTEE ON ECONOMIC AND COMMUNITY DEVELOPMENT
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Bill Summary · SB 486

Overview: SB 486, Economic development: other; SOAR fund; eliminate. Amends sec. 2 of 2000 PA 489 (MCL 12.252) & repeals sec. 4 of 2000 PA 489 (MCL 12.254). Tie bar with SB 488'25. Referred to Committee on Economic and Community Development on July 29, 2025.

Purpose and Intent: The bill aims to eliminate the SOAR (Strategic Outreach and Attraction Reserve) Fund, which was established to support economic development initiatives in the state.

Key Provisions:
- Amends the act that created the SOAR Fund to remove references to the fund
- Repeals the section of the act that established the SOAR Fund

Affected Parties and Impacts: The elimination of the SOAR Fund would impact the state's economic development efforts and the funding sources available for related initiatives.

Procedural and Timeline Considerations: The bill has been referred to the Committee on Economic and Community Development and is currently in the legislative process. It is tied to SB 488, which also addresses economic development programs.

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

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