Higher education: financial aid; Michigan promise zone authority membership; modify. Amends secs. 5, 7 & 11 of 2008 PA 549 (MCL 390.1665 et seq.).

This bill modifies the Michigan Promise Zone Authority Act to update how these zones are governed and how their financial aid plans are structured. It establishes that each promise zone must have a board of 11 members, including nine local appointees and two state legislators, who must reside near the zone and serve without pay. The legislation also requires these boards to create development plans that guarantee financial assistance to eligible graduates, ensuring the funds cover the cost of an associate degree and potentially a bachelor's degree at public institutions.