Economic development: Michigan strategic fund; compliance with the Uyghur forced labor prevention act; provide for. Amends sec. 4 of 1984 PA 270 (MCL 125.2004) & adds sec. 7c.
What changed between versions
Added new definitions for 'Port facilities' (j) and 'Project' (k) that expand eligible infrastructure categories to include research parks, engineering facilities, airports, water treatment facilities, and various port-related structures.
Added new definitions for 'FWC Qualified Settlement Fund' (e), 'Special Purpose FWC Settlement Entity' (m), and 'UFLPA entity list' (n) related to Flint water settlement and forced labor prevention.
Modified the definition of 'Michigan economic development corporation' (g) to explicitly include the fund as a party to the interlocal agreement.
Added new Section 7c prohibiting the fund from providing grants, loans, or assistance to any person on the UFLPA entity list.
Added enforcement provisions requiring written agreements to include clauses that allow the fund to recover all payments plus a 10% penalty if a recipient is added to the UFLPA entity list.
Added a 90-day requirement for the fund to amend all existing written agreements to include UFLPA compliance provisions.