LANSING — Sen. Stephanie Chang (D-Detroit) today introduced a bill as part of a larger legislative package that will bring accountability and transparency to economic development opportunities through the state.
Senate Bill 767 would require the Michigan Strategic Fund board to post draft contract agreements, as well as any briefing memoranda and term sheets, on its website 10 business days before it can approve a grant, award, tax credit, loan, or other assistance.
“The public has a right to know about major agreements that use their tax dollars and have an opportunity to weigh in with their input instead of being blindsided by vague, last-minute agendas, and this bipartisan bill package is a good first step,” Sen. Chang said. “I’m proud to be part of a group of legislators advocating for greater transparency and accountability for corporate tax incentives — it’s what our hardworking families across the state deserve.”
The legislative package also includes Senate Bills 768-771, and all the bills have been referred to the Senate Economic and Small Business Committee for further action.
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