Economic development: other; income tax act of 1967; amend to reflect elimination of the Michigan strategic fund. Amends secs. 51f, 266a, 270, 278, 676, 680, 696, 701, 711, 713 & 718 of 1967 PA 281 (MCL 206.51f et seq.). TIE BAR WITH: SB 0631'25

This bill amends certain sections of Michigan's Income Tax Act to remove references to the Michigan Strategic Fund, which is being eliminated. The changes aim to streamline the tax code in light of this fund's dissolution. It is tied to another bill, SB 0631'25, which may relate to broader economic development efforts.

Supporters of the bill argue that eliminating the Michigan Strategic Fund will simplify the tax code and reduce bureaucratic complexity. They believe this change will lead to a more efficient economic development process, ultimately benefiting businesses and taxpayers in Michigan.

Critics of the bill contend that the elimination of the Michigan Strategic Fund could hinder economic development efforts in the state. They argue that the fund played a crucial role in supporting local businesses and attracting investments, and its removal may have negative consequences for Michigan's economy.