Bill > SB0636

This bill amends the Michigan Business and Industrial Development Company (BIDCO) Act to update terminology and organizational references in response to changes in Michigan's economic development structure. The bill introduces new definitions and modifies existing ones, specifically addressing the transition from the Michigan Strategic Fund to a new Bureau of Fair Competition and Free Enterprise. Key changes include defining the "board of the Michigan strategic fund" to reference both the current board and the future bureau, creating a new definition for "bureau" as the entity responsible for economic development, and updating references to the commissioner from the Office of Financial and Insurance Regulation to the Director of the Department of Insurance and Financial Services. The bill also makes technical modifications to existing definitions such as "business development enterprise" and "Michigan strategic fund" to reflect the organizational changes. Importantly, the bill is tied to another piece of legislation (Senate Bill 631) and will only take effect if that companion bill is also enacted, indicating it is part of a broader legislative package restructuring Michigan's economic development agencies.

Government Affairs

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-SB-0636