Economic development: other; audit that would identify and return unspent money to the general fund for SOAR projects; require. Amends sec. 3 of 2018 PA 540 (MCL 18.1753) & adds sec. 7a. TIE BAR WITH: HB 4771'25

HB 4773 requires the Michigan Auditor General to conduct an annual audit of all funds spent through SOAR (Strategic Outreach and Attraction Reserve) programs and projects. The audit checks whether money needs repayment to the strategic fund, whether unspent SOAR funds were returned to the state's general fund, and if canceled projects properly reverted funds. It also verifies compliance with repayment rules and project documentation. These audits apply directly to SOAR-funded economic development projects, ensuring accountability for state funds allocated through these programs. The results must be reported to state agencies within 30 days of completion.