Economic 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).

HB 5243 would abolish the Michigan Economic Development Corporation (MEDC), ending its role as the state agency managing economic development programs. The bill amends sections 4, 5, and 7 of the Michigan Strategic Fund Act, adds a new section 15, and repeals section 29e to effect this change. This directly affects MEDC and its current programs, which provide grants and loans to support businesses and communities across Michigan. The bill is currently in committee and has not been enacted.