SENATE BILL No. 1027

 

 

March 20, 2012, Introduced by Senators BOOHER, MARLEAU, BRANDENBURG, ANDERSON and GREEN and referred to the Committee on Banking and Financial Institutions.

 

 

 

     A bill to amend 1984 PA 270, entitled

 

"Michigan strategic fund act,"

 

(MCL 125.2001 to 125.2094) by adding section 15.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 15. The fund shall establish requirements to ensure that

 

any recipient of funds, including a loan, a grant, or funding or

 

other assistance for a project, is not an Iran-linked business as

 

described in the Iran economic sanctions act.

 

     Enacting section 1. This amendatory act does not take effect

 

unless Senate Bill No. 1024                                      

 

            of the 96th Legislature is enacted into law.