Bill > SB0790

This bill modifies how corporate income tax revenue is distributed in Michigan, specifically for state fiscal years beginning in 2025-2026 and onward. Currently, a significant portion of this revenue goes to the general fund, with some allocated to specific funds like the Michigan housing and community development fund. This bill proposes to earmark $50,000,000.00 to the Michigan housing and community development fund and, importantly, an additional amount to the Michigan strategic fund, which will then be transferred to the Michigan economic development corporation. This latter amount will be at least $250,000.00 or whatever is needed to fully fund grant, fellowship, and internship programs related to the National Aeronautics and Space Administration (NASA) offered by the Michigan Space Grant Consortium (MSGC), including administrative costs. The Michigan economic development corporation will use these funds to support the MSGC and enable Michigan residents pursuing undergraduate or graduate studies to participate in these NASA-related programs. Any remaining revenue after these allocations will continue to go to the general fund.

Budget and Finance

https://legislature.mi.gov/Bills/Bill?ObjectName=2026-SB-0790