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.

This bill amends the Michigan Strategic Fund Act to update legal definitions and add new compliance requirements related to the Uyghur Forced Labor Prevention Act. It clarifies what counts as an economic development project by explicitly including renewable energy facilities, port infrastructure, and green chemistry initiatives while excluding certain retail and housing activities. The legislation also establishes specific definitions for financial institutions and municipalities to ensure clarity when the fund approves loans or guarantees. By adding a new section to the act, the bill aims to align the fund's operations with federal labor standards and modernize its scope to support sustainable industrial growth.