This bill amends the State School Aid Act of 1979 by making specific allocations for the 2024-2025 fiscal year. It designates up to $14,400,000 for reimbursements to intermediate districts related to property taxes levied under the Brownfield Redevelopment Financing Act. The reimbursements must be used solely for the original purposes of the levied property taxes. Additionally, the bill clarifies the role of the Michigan Strategic Fund and the Department of Treasury in identifying and managing these reimbursements. The definition of the Michigan Strategic Fund is updated to reflect changes in legislation regarding economic development.

Furthermore, the bill allocates up to $900,000 for a pre-college engineering educational program aimed at developing a diverse workforce in Michigan. This program must serve multiple communities and districts, focusing on exposing students to STEM careers, particularly targeting at-risk and underrepresented groups. The definition of the Michigan Strategic Fund is reiterated in this section as well. The enactment of this bill is contingent upon the passage of Senate Bill No. 631 from the 103rd Legislature.

Statutes affected:
Senate Introduced Bill: 388.1626, 388.1665