Bill > SB0490

This bill, known as the "Economic Development Transparency Act," aims to increase public accountability by prohibiting public officers in Michigan from signing nondisclosure agreements (NDAs) related to economic development projects that involve public funds. The bill defines key terms such as "economic development incentive" (which includes tax breaks, grants, and other financial assistance) and "nondisclosure agreement" (which covers confidential information about potential economic development projects, including job creation, investment amounts, site locations, and project details). Specifically, the bill prevents public officers from entering into NDAs that would restrict disclosure of information about economic development projects funded by public money. Any agreements that violate this prohibition will be considered void and unenforceable, and the law applies to new, amended, or renewed agreements after the bill's effective date. The goal is to provide more transparency around how public resources are used to attract and support economic development projects in the state, ensuring that taxpayers and citizens can access information about these initiatives.

Business and Industry

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-SB-0490