Michigan HB5413 establishes a compact among states to prohibit subsidies to private enterprises.

Michigan HB5413 creates the Corporate Welfare Prohibition Compact Act, which prohibits state governments and political subdivisions from providing subsidies to private enterprises. The compact aims to prevent selective support of specific industries or companies and to avoid enticing businesses to relocate. States can withdraw from the compact until certain conditions are met. Once these conditions are satisfied, states can no longer withdraw, and the compact becomes effective.

Michigan HB5413 establishes a compact among states to prohibit subsidies to private enterprises.

Michigan HB5413 creates the Corporate Welfare Prohibition Compact Act, which prohibits state governments and political subdivisions from providing subsidies to private enterprises. The compact aims to prevent selective support of specific industries or companies and to avoid enticing businesses to relocate. States can withdraw from the compact until certain conditions are met. Once these conditions are satisfied, states can no longer withdraw, and the compact becomes effective.