State management: funds; 21st century jobs trust fund; modify. TIE BAR WITH: SB 1072'26

2025-2026 Regular Session Introduced by Michael Webber

SB 1073 would change how the 21st Century Jobs Trust Fund is managed, altering eligibility, allocations, oversight, and reporting for funded projects.

REFERRED TO COMMITTEE ON APPROPRIATIONS

#statemanagement:funds

Summary of SB 1073 (Michigan, 2025-2026)

Purpose and intent

SB 1073 proposes changes to state management of funds related to the 21st Century Jobs Trust Fund. The bill appears to modify existing program provisions to affect funding administration, deployment, or oversight associated with the fund.

The measure is introduced by Senator Michael Webber and is tied to SB 1072, indicating coordinated changes across related provisions.

Key provisions and changes (as drafted or implied)

The bill aims to modify how the 21st Century Jobs Trust Fund is managed by the state. Specifics are not provided in the available summary, but typical modifications could include:

Revisions to eligibility criteria for fund assistance or investments
Adjustments to the allocation process or approval thresholds for projects
Updates to reporting, accountability, or performance measurement requirements
Changes to the source, size, or use of the fund’s balance or annual appropriations
Enhancements to oversight, auditing, or sunset/renewal provisions

Because the bill is paired with SB 1072 (a tie bar), it is part of a broader set of amendments to the same fund program, suggesting a comprehensive retooling of program governance.

Who and what would be affected

State agencies and departments responsible for administering the 21st Century Jobs Trust Fund would implement the changes.

Potential beneficiaries include businesses, researchers, economic development projects, and job-creation initiatives that rely on or could rely on fund support.

Local governments or regional economic development organizations could also be impacted if the fund’s grant, loan, or incentive mechanisms are altered.

Procedural and timeline aspects

Status: Introduced on June 24, 2026, and referred to the Committee on Appropriations, indicating that the bill will be reviewed in the budget/appropriations context, with potential amendments before floor consideration.

As an appropriations-relevant measure, timeline considerations may include annual budget cycles, reporting deadlines, and any sunset provisions related to fund administration.

The tie-bar with SB 1072 means changes would be implemented concurrently or in coordination with that companion bill, potentially affecting the overall package’s passage and effective date.

Practical considerations for readers

If enacted, expect administrative rule updates, revised grant/loan application processes, and new performance reporting requirements for funded projects.

Stakeholders should monitor committee hearings for specifics on funding levels, eligible activities, compliance obligations, and any transitional provisions for ongoing projects.

The bill’s impact will hinge on the exact language governing fund capitalization, eligibility, and oversight mechanisms, which should be reviewed in the full text once available.

Note: This summary is based on the bill’s title, sponsor information, and the known status as of the provided action history. The precise provisions and numerical details will be in the bill’s text and any amendments adopted during committee consideration.