Economic development: other; land bank fast track act; amend to reflect elimination of the Michigan strategic fund. Amends secs. 3, 16 & 23 of 2003 PA 258 (MCL 124.753 et seq.). TIE BAR WITH: SB 0631'25

This bill amends the Land Bank Fast Track Act to remove references to the Michigan Strategic Fund, which has been eliminated. It updates specific sections of the law to reflect this change. The bill is tied to another piece of legislation, SB 0631'25.

Supporters of the bill argue that it streamlines the Land Bank Fast Track Act by removing outdated references, making it more efficient for local governments to manage land use and development. They believe this change will help promote economic growth and revitalization in communities across Michigan.

Critics contend that eliminating the Michigan Strategic Fund could weaken support for economic development initiatives and limit funding opportunities for local projects. They argue that this bill may reduce the effectiveness of land banks in addressing blight and improving community infrastructure.