2012 Senate Bill 1108 / Public Act 358

Revise government "economic development" program detail

Introduced in the Senate

May 1, 2012

Introduced by Sen. Darwin Booher (R-35)

To revise details of the authorization of a Business and Industrial Development Corporation (BIDCO), which is a private entity used by government economic development programs to distribute various corporate subsidies.

Referred to the Committee on Banking and Financial Institutions

May 22, 2012

Reported without amendment

With the recommendation that the bill pass.

May 30, 2012

Amendment offered

To establish that a "BIDCO" must be in the business of funnelling state or private money into firms with less than 750 employees.

The amendment passed by voice vote

May 31, 2012

Passed in the Senate 33 to 3 (details)

Received in the House

May 31, 2012

Referred to the Committee on Banking and Financial Services

Sept. 19, 2012

Reported without amendment

Without amendment and with the recommendation that the bill pass.

Nov. 29, 2012

Passed in the House 105 to 3 (details)

To revise details of the authorization of a Business and Industrial Development Corporation (BIDCO), which is a private entity used by government economic development programs to distribute various corporate subsidies.

Signed by Gov. Rick Snyder

Dec. 12, 2012