The bill amends the Michigan Strategic Fund Act by adding new sections 9a and 9b, which establish a "strategic advisory board" within the fund. This board will consist of both voting and nonvoting members, with the voting members being elected by the nonvoting members who have expertise in various fields 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 as outlined in section 9c.

The strategic advisory board will meet at least quarterly and must conduct its business in compliance with the Open Meetings Act and the Freedom of Information Act. Members will not receive compensation for their service but may be reimbursed for necessary expenses. 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