April 26, 2018, Introduced by Reps. Hammoud, LaGrand, Rabhi, Wittenberg, Moss, Gay-Dagnogo, Elder, Howrylak, Cambensy, Johnson and Camilleri and referred to the Committee on Commerce and Trade.
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. Beginning October 1, 2018, the fund shall establish
requirements to ensure that a business that pays compensation,
including any bonus or other form of compensation as determined by
the fund, to its highest paid officer, director, or employee in an
amount that exceeds the product of 100 multiplied by the lowest
compensation paid to any of its employees is not a recipient of
funds, including a loan, a grant, or funding or other assistance
for a program or activity described in chapter 8 or for a project
under this act.
Enacting section 1. This amendatory act takes effect 90 days
after the date it is enacted into law.