Michigan House Bill HB5675

Michigan 2023-2024 Regular Session

• Introduced: 4/25/24
• Refer: 4/25/24

Caption

Economic development: Michigan strategic fund; investigation regarding the feasibility of developing and operating a virtual small business facilitator; require. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 15.

Impact

This bill, if enacted, could significantly modernize and streamline the process for starting a business in Michigan. By providing a centralized virtual resource, the state aims to lower barriers for entrepreneurs and improve compliance with state regulations. This is expected to foster economic growth by making it easier for new businesses to navigate the often-complex legal landscape, potentially leading to increased job creation and economic activity within the state.

Summary

House Bill 5675 proposes an amendment to the Michigan Strategic Fund Act of 1984, specifically by adding a new section that mandates an investigation into the feasibility of developing a virtual small business facilitator. This facilitator would be operated in conjunction with the Department of Licensing and Regulatory Affairs and the Department of Treasury. The purpose is to create a user-friendly platform that assists potential business owners in identifying legal entities appropriate for their business needs, guides them in the application processes for these entities, and addresses compliance issues related to state tax, unemployment compensation, and workers' compensation, thereby enhancing state support for small businesses.

Contention

Notable points of contention surrounding HB 5675 may include discussions over the implementation costs associated with developing the virtual facilitator and whether existing state resources are adequate for such an initiative. Critics might argue about the effectiveness of third-party vendors in delivering these services and concerns regarding data privacy and the security of users’ information. Additionally, ensuring equitable access to these resources across different regions, particularly in areas with limited internet access, may also be contentious issues to address as the bill progresses through the legislative process.