Michigan HB5243 abolishes the Michigan Economic Development Corporation and transfers its powers and duties to the Michigan Strategic Fund.

Michigan HB5243 amends the Michigan Strategic Fund Act to abolish the Michigan Economic Development Corporation (MEDC). The bill transfers all powers, duties, functions, records, personnel, property, and unexpended balances of appropriations from the MEDC to the Michigan Strategic Fund. The fund is designated as an autonomous entity within the Department of Labor and Economic Opportunity. The bill also repeals certain sections of the act and adds new provisions regarding the fund's operations, including its ability to make loans, enter into agreements, and manage projects.

Michigan HB5243 abolishes the Michigan Economic Development Corporation and transfers its powers and duties to the Michigan Strategic Fund.

Michigan HB5243 amends the Michigan Strategic Fund Act to abolish the Michigan Economic Development Corporation (MEDC). The bill transfers all powers, duties, functions, records, personnel, property, and unexpended balances of appropriations from the MEDC to the Michigan Strategic Fund. The fund is designated as an autonomous entity within the Department of Labor and Economic Opportunity. The bill also repeals certain sections of the act and adds new provisions regarding the fund's operations, including its ability to make loans, enter into agreements, and manage projects.