Economic development: other; SOAR fund; eliminate. Amends sec. 2 of 2000 PA 489 (MCL 12.252) & repeals sec. 4 of 2000 PA 489 (MCL 12.254). TIE BAR WITH: SB 488'25

SB 486 eliminates the Strategic Outreach and Attraction Reserve (SOAR) fund, a dedicated revenue source for economic development programs under Michigan's trust fund law. The bill repeals Section 4 of the 2000 Michigan Trust Fund Act (MCL 12.254), which established the SOAR fund for attracting businesses and supporting community outreach initiatives. This change directly affects state funding mechanisms for economic development efforts, removing a specific allocation channel. The repeal is contingent on Senate Bill 488 also becoming law.