Economic development: other; land bank fast track act; amend to reflect elimination of the Michigan strategic fund. Amends secs. 3, 16 & 23 of 2003 PA 258 (MCL 124.753 et seq.). TIE BAR WITH: SB 0631'25

SB 654 updates Michigan's Land Bank Fast Track Act to eliminate the Michigan Strategic Fund as an entity responsible for land bank authority duties. It specifies that starting when the Economic Development Fair Competition and Free Enterprise Act takes effect, the Bureau of Fair Competition and Free Enterprise will handle these duties instead of the Michigan Economic Development Corporation or Michigan Strategic Fund. The bill affects land banks (state, county, or local authorities managing properties taken by the state for unpaid taxes) by changing which agency oversees their operations. This is a technical administrative update to the law, not a change to how land banks operate on the ground.