The bill aims to establish a clear definition for "nondisclosure agreement" within Michigan law. It defines a nondisclosure agreement as any agreement or contract that contains a clause prohibiting one party from disclosing, discussing, describing, or commenting on the agreement or its terms. This definition is intended to provide clarity and consistency in the application of nondisclosure agreements across various contexts.

Additionally, the bill includes a provision stating that it will not take effect unless certain other legislative measures, specifically Senate Bill No. ____ or House Bill No. ____ of the 103rd Legislature, are enacted into law. This conditional enactment ensures that the definitions provided in this bill are aligned with broader legislative efforts regarding nondisclosure agreements.