Economic development: Michigan strategic fund; Michigan strategic site readiness program and critical industry program; eliminate. Amends sec. 9 of 1984 PA 270 (MCL 125.2009) & repeals secs. 88s & 88t of 1984 PA 270 (MCL 125.2088s & 125.2088t). TIE BAR WITH: SB 486'25

SB 488 eliminates specific reporting requirements for Michigan's Strategic Fund under the Michigan Strategic Fund Act. It repeals Sections 88s and 88t, which previously mandated detailed annual reports on financial assistance programs, including job creation numbers, salaries, loan status, and bankruptcy notices. The bill directly affects the Strategic Fund and businesses receiving its financial assistance by removing these transparency obligations. Key provisions removed include requirements to report new/retained jobs, average salaries, private investment amounts, and community revitalization project details. This change simplifies the fund's reporting process without altering its core economic development programs.