State agencies (proposed): authorities; use of grant funds and issuance of revenue bonds; modify. Amends title & secs. 2, 8, 9, 10, 13, 14, 14a, 16, 18, 20, 23, 24 & 25 of 1978 PA 639 (MCL 120.102 et seq.) & adds sec. 19a.
Key claim: Michigan SB0052 amends the 1978 Proposed State Authorities Act to modify how proposed state agencies may use grant funds and issue revenue bonds, and adds a new section 19a.
Abstract
(SB0052 · 103rd Legislature) State agencies (proposed): authorities; use of grant funds and issuance of revenue bonds; modify. Amends title & secs. 2, 8, 9, 10, 13, 14, 14a, 16, 18, 20, 23, 24 & 25 of 1978 PA 639 (MCL 120.102 et seq.) & adds sec. 19a. Latest action (2026-07-03): Ordered Enrolled
Why this matters
State authorities are quasi-independent public bodies that finance and administer economic development projects, often through revenue bonds backed by project income rather than general tax revenue. Changes to how these authorities may deploy grant funds and issue bonds affect the tools available for public infrastructure and economic development financing in Michigan, with implications for taxpayers, bondholders, and beneficiary communities.