Economic development: Michigan strategic fund; approval and certification of certain research and development tax credits; authorize. Amends title & secs. 7 & 9 of 1984 PA 270 (MCL 125.2007 & 125.2009).

This bill updates the Michigan Strategic Fund Act to formally transfer the responsibilities and assets of the Job Development Authority and the Michigan Economic Development Authority into the new Michigan Strategic Fund. The legislation grants the fund broad powers to issue bonds, make loans and investments, and manage real or personal property to support economic development projects. Additionally, it establishes the fund's ability to certify minority venture capital companies for tax credit eligibility and authorizes the creation of various centers, accounts, and permanent funds to administer state resources. By amending existing sections of the law, the bill provides a legal framework for the fund to operate independently while continuing its role in fostering business growth and job creation across the state.