HB-4998, As Passed House, June 3, 2014

SUBSTITUTE FOR

HOUSE BILL NO. 4998

     A bill to establish a pilot project to accelerate

entrepreneurship and innovation by establishing entrepreneur-in-

residence positions in the strategic fund.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

     Sec. 1. This act shall be known and may be cited as the

"entrepreneur-in-residence act".

     Sec. 2. As used in this act:

     (a) "Entrepreneur-in-residence" means an individual appointed

to a position under the project.

     (b) "Project" means the entrepreneur-in-residence project

established under this act.

     (c) "Strategic fund" means the Michigan strategic fund created

under the Michigan strategic fund act, 1984 PA 270, MCL 125.2001 to

125.2094.

     Sec. 3. (1) The entrepreneur-in-residence project is

established in the strategic fund.

     (2) The project goals include all of the following:

     (a) Improving outreach by state government to the private

sector.

     (b) Strengthening coordination and interaction between state

government and the private sector on issues relevant to

entrepreneurs and small business concerns.

     (c) Making state government economic development programs and

incentives simpler and easier to access, more efficient, and more

responsive to the needs of entrepreneurs and small business

concerns.

     Sec. 4. (1) The president of the strategic fund shall appoint

not more than 10 entrepreneurs-in-residence under the project

during any year.

     (2) The president of the strategic fund shall select an

entrepreneur-in-residence for appointment based on all of the

following qualifications:

     (a) Success in his or her field of endeavor.

     (b) Demonstrated success in working with entrepreneurs and

small business concerns.

     (c) Success in developing, inventing, or creating a product

and bringing it to the marketplace.

     (3) An entrepreneur-in-residence shall serve without

compensation for a maximum of 2 years.

     (4) Before beginning to serve as an entrepreneur-in-residence,

the appointee shall provide the president of the strategic fund

with a disclosure statement listing all sources of income and the

nature of any ownership interest in a business during the past year

for the appointee, his or her spouse, and each parent, child, and

sibling of the appointee. The appointee shall update the statement

each year and immediately upon any significant change. The

disclosure statement is subject to the freedom of information act,

1976 PA 422, MCL 15.231 to 15.246. The president of the strategic

fund or his or her designee shall check any recommendation made by

an entrepreneur-in-residence against the disclosure statement for

the existence of a conflict of interest.

     (5) An entrepreneur-in-residence shall perform the following

duties:

     (a) Assist the strategic fund in improving outreach to small

business concerns and entrepreneurs.

     (b) Identify any inefficient or duplicative economic

development programs of this state.

     (c) Provide recommendations to the strategic fund on methods

to improve the efficiency of existing state economic development

programs and incentives or for establishing new initiatives.

     (d) Facilitate meetings and forums to educate small business

concerns and entrepreneurs on state economic development programs

and incentives.

     (e) Facilitate in-service sessions with employees of the

strategic fund or other state departments and agencies on issues of

interest to entrepreneurs and small business concerns.

     (f) Provide mentorship and technical assistance to small

business concerns and entrepreneurs to aid in access to or

House Bill No. 4998 (H-2) as amended June 3, 2014

participation in state economic development programs and

incentives.

     Sec. 5. (1) An entrepreneur-in-residence shall report directly

to the president of the strategic fund.

     (2) The president of the strategic fund may establish an

informal work group of entrepreneurs-in-residence to discuss best

practices, experiences, obstacles, opportunities, and

recommendations.

     Sec. 6. All departments and agencies shall cooperate with the

strategic fund and any entrepreneur-in-residence as necessary to

facilitate the project.

     Sec. 7. The president of the strategic fund shall not appoint

an entrepreneur-in-residence under this act after September 30,

2016.

[Enacting section 1. This act takes effect upon the expiration of 90 days after the date it is enacted into law.]