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Bill > HB5243
MI HB5243
MI HB5243Economic development: other; Michigan economic development corporation; abolish. Amends secs. 4, 5 & 7 of 1984 PA 270 (MCL 125.2004 et seq.); adds sec. 15 & repeals sec. 29e of 1984 PA 270 (MCL 125.2029e).
summary
Introduced
11/06/2025
11/06/2025
In Committee
11/06/2025
11/06/2025
Crossed Over
Passed
Dead
Introduced Session
103rd Legislature
Bill Summary
A bill to amend 1984 PA 270, entitled"Michigan strategic fund act,"by amending sections 4, 5, and 7 (MCL 125.2004, 125.2005, and 125.2007), sections 4 and 7 as amended by 2020 PA 358 and section 5 as amended by 2023 PA 24, and by adding section 15; and to repeal acts and parts of acts.
AI Summary
This bill proposes significant changes to the Michigan Strategic Fund (MSF) by fundamentally restructuring its relationship with the Michigan Economic Development Corporation (MEDC). The bill amends several sections of the Michigan Strategic Fund Act to remove the MEDC's role in economic development activities and consolidate its powers and functions directly within the Strategic Fund. Specifically, the bill prohibits the Strategic Fund from delegating any powers to the MEDC, prevents funding or support for any projects associated with the MEDC, requires the Strategic Fund to withdraw from the interlocal agreement that created the MEDC, and transfers all of the MEDC's powers, records, and resources to the Strategic Fund. The bill also modifies the board composition by removing the MEDC's chief executive officer as a board member and makes technical changes to definitions and operational details of the fund. Additionally, the bill repeals a specific section of the existing law related to the MEDC. These changes appear designed to centralize economic development functions within the Strategic Fund and eliminate the separate MEDC entity, effectively abolishing the MEDC as a distinct organization while maintaining its core economic development responsibilities.
Committee Categories
Government Affairs
Sponsors (11)
Steve Carra (R)*,
Will Bruck (R),
Jay DeBoyer (R),
Jim DeSana (R),
Joseph Fox (R),
Tim Kelly (R),
Matt Maddock (R),
Luke Meerman (R),
Angela Rigas (R),
Bill Schuette (R),
Jason Woolford (R),
Last Action
Bill Electronically Reproduced 11/06/2025 (on 11/12/2025)
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-HB-5243 |
| BillText | https://legislature.mi.gov/documents/2025-2026/billintroduced/House/htm/2025-HIB-5243.htm |
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