Economic development: other; Michigan business tax act; amend to reflect elimination of the Michigan strategic fund. Amends secs. 107, 111, 415, 419, 435 & 460 of 2007 PA 36 (MCL 208.1107 et seq.). TIE BAR WITH: SB 0631'25

SB 655 amends Michigan's Business Tax Act to remove references to the Michigan Strategic Fund, which was eliminated by prior legislation. The bill updates specific sections (107, 111, 415, 419, 435, and 460) to reflect this change, ensuring the tax code no longer references the defunct fund. It directly affects businesses that previously held tax credits or agreements tied to the Strategic Fund before January 1, 2012. The amendment makes no new policy changes but aligns the tax code with current program structures. This is a procedural update to existing tax law, not a new benefit or requirement.