Bill > SB0654

This bill amends the Land Bank Fast Track Act to reflect changes in Michigan's economic development structure, primarily updating references to the Michigan Strategic Fund and Michigan Economic Development Corporation with a new Bureau of Fair Competition and Free Enterprise. The bill modifies definitions and provisions related to land bank authorities, specifically changing how intergovernmental agreements are structured and who can participate in them. Key changes include renaming the state land bank authority, updating board membership to include a representative from the new bureau instead of the Michigan Economic Development Corporation, and establishing new protocols for intergovernmental agreements involving economic development services. The bill also makes technical corrections such as standardizing language (replacing "shall" with "must" in some instances) and clarifying provisions about tax-reverted property transfers. Importantly, the bill is tied to another piece of legislation (Senate Bill 631) and will only take effect if that bill is also enacted, suggesting it is part of a broader reorganization of Michigan's economic development infrastructure. The modifications aim to streamline and modernize the process for managing and transferring tax-reverted properties while adapting to changes in state economic development agencies.

Government Affairs

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-SB-0654