Michigan HB4241 prohibits economic incentives to certain foreign countries.

Michigan HB4241 amends the Michigan Economic Growth Authority Act to prohibit the fund from providing economic incentives to foreign entities. These include entities owned or controlled by governments or entities from specific countries: China, Russia, Iran, North Korea, Cuba, Venezuela, and Syria. The bill requires recipients or applicants for economic incentives to provide an affidavit attesting they are not foreign entities. It also mandates that entities distributing incentives ensure they do not benefit foreign entities and require recipients to provide the required affidavit.

Michigan HB4241 prohibits economic incentives to certain foreign countries.

Michigan HB4241 amends the Michigan Economic Growth Authority Act to prohibit the fund from providing economic incentives to foreign entities. These include entities owned or controlled by governments or entities from specific countries: China, Russia, Iran, North Korea, Cuba, Venezuela, and Syria. The bill requires recipients or applicants for economic incentives to provide an affidavit attesting they are not foreign entities. It also mandates that entities distributing incentives ensure they do not benefit foreign entities and require recipients to provide the required affidavit.