This bill amends the 1921 PA 2, which governs the state administrative board's powers and duties. Key changes include the insertion of new language that clarifies the board's authority to perform duties under the economic development fair competition and free enterprise act, replacing references to the Michigan strategic fund act. The bill also specifies that the state administrative board has the power to employ a chief compliance officer and review reports related to economic development, ensuring that the board's oversight extends to these areas.

Additionally, the bill modifies the language regarding the board's financial authority, emphasizing that it cannot transfer appropriations to the general fund or use funds for purposes other than those designated by the legislature. It introduces provisions for inter-transfers of funds within appropriations for specific departments, boards, or institutions, contingent upon notification to the appropriations committees. The bill also outlines the board's ability to intervene in matters related to its functions and directs compliance from state officials and employees, with noncompliance deemed malfeasance. The enactment of this bill is contingent upon the passage of Senate Bill No. 631.

Statutes affected:
Senate Introduced Bill: 17.2, 17.3