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MI SB0647
MI SB0647Economic development: other; income tax act of 1967; amend to reflect elimination of the Michigan strategic fund. Amends secs. 51f, 266a, 270, 278, 676, 680, 696, 701, 711, 713 & 718 of 1967 PA 281 (MCL 206.51f et seq.). TIE BAR WITH: SB 0631'25
summary
Introduced
10/30/2025
10/30/2025
In Committee
10/30/2025
10/30/2025
Crossed Over
Passed
Dead
Introduced Session
103rd Legislature
Bill Summary
A bill to amend 1967 PA 281, entitled"Income tax act of 1967,"by amending sections 51f, 266a, 270, 278, 676, 680, 696, 701, 711, 713, and 718 (MCL 206.51f, 206.266a, 206.270, 206.278, 206.676, 206.680, 206.696, 206.701, 206.711, 206.713, and 206.718), section 51f as added by 2017 PA 110, sections 266a and 676 as added by 2020 PA 343, sections 270 and 278 as amended and section 713 as added by 2011 PA 38, section 680 as amended by 2019 PA 92, section 696 as added by 2023 PA 4, section 701 as amended by 2024 PA 177, section 711 as amended by 2018 PA 118, and section 718 as added by 2024 PA 119.
AI Summary
This bill updates several sections of Michigan's Income Tax Act of 1967 to reflect the elimination of the Michigan Strategic Fund and transition its functions to a new "bureau of fair competition and free enterprise." The bill makes technical changes across multiple sections, primarily replacing references to the Michigan Strategic Fund with references to the new bureau or marking previous references as "former." Key modifications include updating terminology related to economic development credits, tax vouchers, historic resource rehabilitation credits, and reporting requirements. The bill ensures that existing agreements, credits, and programs that were previously managed by the Michigan Strategic Fund can continue under the new organizational structure. The bill is contingent on the passage of Senate Bill 631, which likely contains more substantive details about the creation of the new bureau. The changes appear primarily administrative in nature, designed to maintain continuity of existing economic development programs while shifting their administrative oversight to a new government entity.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Referred To Committee On Government Operations (on 10/30/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.mi.gov/Bills/Bill?ObjectName=2025-SB-0647 |
| BillText | https://legislature.mi.gov/documents/2025-2026/billintroduced/Senate/htm/2025-SIB-0647.htm |
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