State finance: other; spending plan and audit requirements to receive a grant and limitations on awarding grants, loans, or other economic assistance; provide for. Amends sec. 448 of 1984 PA 431 (MCL 18.1448) & adds sec. 449.

This bill requires state agencies to ask organizations seeking grants to submit detailed spending plans and undergo annual audits. It also mandates that the state create a free, searchable online database where the public can view information about how state funds are spent, including the recipient's name, amount received, and the purpose of the funding. Additionally, the bill prohibits the state from awarding grants, loans, or other economic assistance to entities that have not operated for at least two years, lack a physical presence or recent service activity in Michigan, or are owned or operated by state government employees or their immediate family members.