Economic development: other; economic incentives to certain foreign countries; prohibit. Amends secs. 88s & 88t of 1984 PA 270 (MCL 125.2088s & 125.2088t) & adds sec. 7c.

This bill prohibits the Michigan Strategic Fund from providing grants, loans, or other economic assistance to individuals or companies linked to specific foreign nations designated as security risks. It defines these restricted entities as those from countries of concern, state sponsors of terror, or those on federal military end-user lists, as well as any organization where such entities hold a significant ownership stake. By adding a new section to the Michigan Strategic Fund Act, the legislation ensures that public funds cannot support projects involving these disqualified persons, regardless of other program criteria. The law also updates existing sections to explicitly include these restrictions within the fund's critical industry and outreach programs.