State management: other; denial of certain state economic development incentives for businesses listed on the registry; provide for. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 15. TIE BAR WITH: SB 0582'23
Impact
The implementation of SB 583 would alter how economic development funds are allocated in Michigan. By denying assistance to businesses that are listed on the registry, the state intends to reinforce the importance of creating and maintaining jobs in secure sectors. This legislation underscores a growing commitment to fostering a stable job market, as well as ensuring accountability among businesses that benefit from state resources. The changes could also lead to a fundamental shift in how businesses approach their eligibility for state assistance.
Summary
Senate Bill 583, known as the amendments to the Michigan Strategic Fund Act, seeks to impose restrictions on businesses that are listed in a specific registry associated with call center jobs. Specifically, beginning October 1, 2024, the bill requires that businesses on this registry cannot receive any state economic development incentives, including loans, grants, or other forms of financial assistance. This move is aimed at encouraging compliance with the guidelines established under the Call Center Jobs Retention Act, ensuring that the state’s assistance is directed towards businesses that meet certain job retention criteria.
Contention
Although the bill aims to secure jobs and ensure state funds are used appropriately, it raises concerns regarding its potential impact on businesses. Critics argue that by restricting funding based solely on registry status, the bill may unintentionally harm companies that are working towards compliance but have yet to meet all criteria. There is a contention that such a rigid approach could stifle business growth and innovation, particularly among fledgling companies that might require state support to thrive.
Same As
Labor: other; registry of employers who relocate a call center to a foreign country; require the department of labor and economic opportunity to create. Creates new act.
State management: other; denial of certain state economic development incentives for businesses listed on the registry; provide for. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 15.
Economic development: other; economic incentives to certain foreign countries; prohibit. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 7c.
Economic development: other; economic incentives to certain foreign countries; prohibit. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 7c.
State: interstate compacts and agreements; incentives to encourage companies to relocate from one state to another; prohibit. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 15. TIE BAR WITH: SB 0854'24
Economic development: other; economic development incentive evaluations for make it in Michigan projects; require. Amends sec. 3 of 2018 PA 540 (MCL 18.1753). TIE BAR WITH: SB 0559'23, SB 0562'23
Economic development: other; strategic advisory board; create, and provide for the development of strategic plans. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding secs. 9a & 9b. TIE BAR WITH: SB 0213'25
Economic development: other; economic incentives to certain foreign countries and entities; prohibit. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 7c.
State: interstate compacts and agreements; incentives to encourage companies to relocate from one state to another; prohibit. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 15.
Economic development: other; strategic advisory board; create, and provide for the development of strategic plans. Amends title of 1984 PA 270 (MCL 125.2001 - 125.2094) & adds sec. 9c. TIE BAR WITH: SB 0214'25
Economic development: other; economic incentives to certain foreign countries and entities; prohibit. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 7c.