Bill > SB0644

This bill amends the Economic Development Incentive Evaluation Act to replace references to the Michigan Strategic Fund with a new "Bureau of Fair Competition and Free Enterprise" as the primary entity overseeing economic development incentives. The bill modifies definitions and procedures for evaluating economic development incentives, which include various tax credits, abatements, grants, and exemptions across multiple state economic programs. Key changes include mandating that the Department of Technology, Management, and Budget contract with external contractors to periodically evaluate these incentives, with evaluations required at least every 4-6 years depending on the funding level. The bill also requires these evaluations to be published on the department's website and provides guidelines for how state agencies should share information with contractors while protecting sensitive commercial information. The bill's implementation is tied to the passage of a companion Senate bill, and it aims to standardize and improve the review process for economic development incentive programs by creating a more centralized and systematic evaluation mechanism. Importantly, the bill does not eliminate economic development incentives but seeks to create a more structured and transparent approach to assessing their effectiveness and impact.

Government Affairs

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-SB-0644