Economic development: Michigan strategic fund; approval and certification of certain research and development tax credits; authorize. Amends title & secs. 7 & 9 of 1984 PA 270 (MCL 125.2007 & 125.2009). TIE BAR WITH: HB 5100'23, HB 5101'23, HB 5102'23, HB 5978'24, SB 1017'24, SB 1017'24

SB 1018 establishes the Michigan Strategic Fund as a central entity for state economic development by transferring the responsibilities of the Job Development Authority and the Michigan Economic Development Authority to it. The bill grants the fund broad powers to make loans, grants, and investments, issue bonds, and acquire or develop real and personal property to support various projects. It also allows the fund to certify minority venture capital companies for tax credit purposes and to operate specialized centers and accounts for managing its assets. By consolidating these functions, the legislation aims to streamline economic incentives and financing options for businesses and projects within the state.