Economic development: Michigan strategic fund; community development tax credit program; establish and administer. Amends secs. 7 & 9 of 1984 PA 270 (MCL 125.2007 & 125.2009). TIE BAR WITH: SB 0923'26

This bill amends the Michigan Strategic Fund Act to expand the fund's existing legal powers and operational capabilities. It directly affects the Michigan Economic Development Corporation by allowing it to perform a wider range of financial and administrative tasks, such as issuing bonds, managing job training funds, and operating brownfield investment programs. The key provision updates the statute to explicitly authorize the fund to create new accounts, secure loans for export transactions, and pursue repayment of grants that fail to meet agreement terms. By clarifying these authorities within the current law, the legislation aims to provide a more robust legal framework for the fund's economic development activities without altering its core mission.