Bill > SB0631

This bill creates the Bureau of Fair Competition and Free Enterprise within the Department of Labor and Economic Opportunity to replace the Michigan Strategic Fund (MSF) and Michigan Economic Development Corporation (MEDC), which the bill argues have been ineffective at creating jobs and economic growth. The bill abolishes the MSF and terminates its interlocal agreement with the MEDC, transferring all of their powers, duties, functions, properties, and ongoing economic incentive programs to the new bureau. The bureau will be led by a director appointed by the governor, who will coordinate policies and programs related to job creation and economic growth. The bill establishes strict reporting requirements, mandating an annual report detailing all economic incentives, including the type, amount, recipients, job creation metrics, and project status. Additionally, the bill creates an independent Office of Chief Compliance Officer within the bureau to prevent illegal, unethical, or improper conduct, with powers to review policies, investigate compliance issues, and provide quarterly reports. The legislation repeals several existing economic development acts and transfers existing contractual obligations and restricted funds to the new bureau, with the ultimate goal of promoting fair competition and ensuring that state economic incentives provide concrete, measurable benefits to Michigan.

Government Affairs

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-SB-0631