The bill amends the Michigan Strategic Fund Act by adding new sections 9a and 9b, which establish a Strategic Advisory Board within the fund. Section 9a defines key terms, including "Strategic Advisory Board" and "Strategic Plan." Section 9b outlines the composition and responsibilities of the board, which will consist of both voting and nonvoting members. The voting members will be elected by various nonvoting members who have expertise in areas such as jobs, transit, economic development, housing, education, rural development, innovation, and environmental matters. The governor is responsible for appointing the nonvoting members, and the board is tasked with developing a strategic plan in collaboration with these members.

The bill also specifies the governance structure of the Strategic Advisory Board, including the appointment process, term limits, and procedures for meetings and decision-making. It mandates that the board conduct its business in compliance with the Open Meetings Act and the Freedom of Information Act. Once the strategic plan is developed, the board will be dissolved. The enactment of this bill is contingent upon the passage of Senate Bill No. 213 of the 103rd Legislature.

Statutes affected:
Substitute (S-3): 125.2001, 125.2094
Senate Introduced Bill: 125.2001, 125.2094