To create one of the corporate subsidy accounts House Bill 5602 would authorize, to be called the “Strategic Site Readiness Fund,” which would give grants and loans to certain companies to create “investment-ready sites” for new job producing plants and facilities.   Official Text and Analysis.

With the recommendation that the substitute (H-1) be adopted and that the bill then pass.

To revise "clawback" provisions for companies that take the subsidies but don't produce the jobs or investments, by adding a penalty equal to 25% of the subsidies they have collected.

To require the state officials in charge of determining which companies get these selective subsidies to consider whether a prospective recipient will to hire and employ Michigan workers.

To reduce the minimum size of a parcel a potential corporate subsidy recipient must develop to qualify for certain extra benefits.

To remove a qualification on the criteria that prospective corporate subsidy recipients must meet to get the money.

To create one of the corporate subsidy accounts Senate Bill 769 would authorize, to be called the “Strategic Site Readiness Fund,” which would give grants and loans to certain companies to create “investment-ready sites” for new job producing plants and facilities. See also Senate Bill 84, which authorizes spending $1 billion in state revenue to pay for this.