Amends Michigan law to reflect the elimination of the Michigan Strategic Fund.

This bill amends sections 2b and 3 of 1921 PA 2 to reflect the elimination of the Michigan Strategic Fund. It removes references to the Strategic Outreach and Attraction Reserve Fund and the Critical Industry Program, and adjusts the powers and duties of the State Administrative Board accordingly. The board is prohibited from transferring funds for certain purposes unless approved by the appropriations committees. The board retains the authority to inter-transfer funds within a particular department or institution, subject to certain conditions.

Amends Michigan law to reflect the elimination of the Michigan Strategic Fund.

This bill amends sections 2b and 3 of 1921 PA 2 to reflect the elimination of the Michigan Strategic Fund. It removes references to the Strategic Outreach and Attraction Reserve Fund and the Critical Industry Program, and adjusts the powers and duties of the State Administrative Board accordingly. The board is prohibited from transferring funds for certain purposes unless approved by the appropriations committees. The board retains the authority to inter-transfer funds within a particular department or institution, subject to certain conditions.