COMPETITIVE EDGE TECHNOLOGY S.B. 144:
COMMITTEE SUMMARY
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Senate Bill 144 (as introduced 2-15-11)
Sponsor: Senator Mike Green
Committee: Agriculture
Date Completed: 2-23-11
CONTENT
The bill would amend Chapter 8A of the Michigan Strategic Fund Act, which established the 21st century investment programs, to include information and agricultural processing technology, and other innovative technology, in the definition of "competitive edge technology".
Among other things, Chapter 8A provides for competitive edge technology grants and loans. The definition of "competitive edge technology" includes "advanced automotive, manufacturing, and materials technology". The bill would refer instead to "advanced automotive, manufacturing, information, and agricultural processing technology".
Competitive edge technology also includes life sciences technology, homeland security and defense technology, and alternative energy technology. Under the bill, it would include any other innovative technology as determined by the board of the Michigan Strategic Fund.
Chapter 8A contains a definition of "advanced automotive, manufacturing, and materials technology". Under the bill, the defined term would be "advanced automotive, manufacturing, materials, information, and agricultural processing technology".
MCL 125.2088a Legislative Analyst: Patrick Affholter
FISCAL IMPACT
The bill would have no fiscal impact on State or local government.
Fiscal Analyst: Elizabeth Pratt
Analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent. sb144/1112