Economic development: other; certain funds directed to SOAR or CIP; require to be returned to the general fund. Amends secs. 88s & 88t of 1984 PA 270 (MCL 125.2088s & 125.2088t). TIE BAR WITH: HB 4773'25

HB 4771 requires that funds designated for Michigan's Critical Industry Program (CIP) or Strategic Outreach and Attraction Reserve (SOAR) must be returned to the state's general fund if not used for qualifying economic development projects. The bill amends the Michigan Strategic Fund Act to mandate this return, ensuring unspent funds are available for broader state budget priorities rather than remaining in program-specific accounts. This affects the Michigan Strategic Fund, which administers these programs, and applies when projects are canceled, delayed, or not commenced as planned. The change does not alter the program's eligibility criteria but adds a requirement for returning unused funds within 90 days of notification.