Michigan SB0783 prohibits publicly traded entities from undertaking stock buybacks while receiving economic incentives from the Michigan Strategic.
Michigan SB0783 amends the Michigan Economic Development Corporation Act to prohibit publicly traded entities from engaging in stock buybacks during the period they receive economic incentives or are subject to a written agreement regarding such incentives. The Michigan Strategic Fund is also barred from entering into agreements that breach this provision. Economic incentives include grants, loans, tax captures or abatements, or other economic assistance provided by the Michigan Strategic Fund.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.