Bill > SB1015

This bill amends the Michigan Strategic Fund Act to prohibit the Michigan Strategic Fund from providing any grants, loans, or other economic assistance to a person on the Uyghur Forced Labor Prevention Act (UFLPA) entity list. The bill also requires all existing and future written agreements with the Fund to include provisions that if the person receiving assistance is added to the UFLPA entity list, they must forfeit any future payments, reimburse the Fund for 100% of payments already received plus a 10% penalty, and have the agreement terminated. The bill also allows the Fund to void and refuse to disburse money under any existing written agreement that is not amended as required.