State management: other; denial of certain state economic development incentives for businesses listed on the registry; provide for. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 15.

This bill modifies Michigan's Strategic Fund Act to allow the state to deny or recover economic development funds if a recipient business is added to a specific registry of non-compliant entities. Starting in October 2024, the law requires written agreements for loans, grants, and other assistance to include clauses that trigger a default and require the return of money if the business is listed on that registry during the agreement term. The measure applies to any business receiving financial support under the act and takes effect 90 days after passage, contingent on the simultaneous enactment of a related companion bill.