Directs the Department of Economic Development to provide technical assistance to municipalities affected by college or university closures.
The bill amends the economic development law to direct the Department of Economic Development to provide technical assistance to municipalities where a college or university has closed. This assistance includes workforce transition, attracting new employers, developing plans for former college or university land and buildings, and recommendations for dealing with creditors and other entities with financial interests in the college or university's assets. The state will not become a party to any legal proceedings related to this assistance.
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