Economic development: other; application process for critical industry program and Michigan strategic site readiness program; revise. Amends secs. 88s & 88t of 1984 PA 270 (MCL 125.2088s & 125.2088t) & adds sec. 7c.

HB 4491 revises the application process for Michigan's critical industry program and other economic development initiatives managed by the Michigan Strategic Fund. It requires businesses seeking state funding to complete a form attesting, under penalty of perjury, that their hiring and promotion practices are based solely on merit, defined by objective criteria like experience and education. False attestations carry a $5,000 civil fine and potential perjury charges. Additionally, the bill outlines specific criteria the fund must consider when awarding investments and mandates detailed terms for agreements with businesses, including job creation targets, performance benchmarks, and clawback provisions for non-compliance.