The bill amends the Michigan Strategic Fund Act by introducing new sections 9a and 9b, which establish a "strategic advisory board" within the fund. This board will include both voting and nonvoting members, with voting members elected by nonvoting members from various sectors such as jobs, transit, economic development, housing, education, rural development, innovation, and environmental matters. The governor will appoint the nonvoting members, who will provide expertise in their fields. The board's primary responsibility is to develop a strategic plan, which will be created by the voting members with input from the nonvoting members.

The bill details the structure and responsibilities of the strategic advisory board, including the appointment process, term lengths, and procedures for filling vacancies. It requires the board to meet at least quarterly and comply with the Open Meetings Act and the Freedom of Information Act. While members will not receive compensation for their service, they may be reimbursed for necessary expenses. Once the strategic plan is developed and submitted, the board will be dissolved. The enactment of this bill is contingent upon the passage of Senate Bill No. 213 from the 103rd Legislature.

Statutes affected:
Substitute (S-3): 125.2001, 125.2094
Substitute (S-4): 125.2001, 125.2094
Substitute (S-5): 125.2001, 125.2094
Senate Introduced Bill: 125.2001, 125.2094
As Passed by the Senate: 125.2001, 125.2094