Bill > SB0481

This bill amends the 2006 Michigan law that created the Michigan Strategic Fund and the Michigan Defense Center. The key changes are: 1) Renaming the "Procurement Technical Assistance Center" (PTAC) to the "APEX Accelerator" throughout the law. 2) Requiring the Michigan Defense Center to focus solely on job creation and retention from business opportunities associated with the APEX Accelerator for homeland security and defense contracts. 3) Directing the Michigan Defense Center to coordinate with APEX Accelerators in Michigan to maximize homeland security and defense business opportunities for small businesses and small business innovation research programs in the state. 4) Requiring the Michigan Defense Center to prioritize bringing homeland security and defense business opportunities to municipalities hardest hit by manufacturing layoffs. 5) Mandating the Michigan Defense Center to set a performance objective of increasing defense and homeland security contracts awarded to businesses located in Michigan. 6) Specifying that if an APEX Accelerator or other entity receives funding from the Michigan Defense Center or Michigan Strategic Fund, they must report annually on how the funds were used and the number/amount of defense/homeland security contracts they received.