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Economic growth, next energy authorities merged with strategic fund
June 26, 2012
LANSING, Mich.-Gov. Rick Snyder today issued Executive Order 2012-9 dissolving the Michigan Economic Growth Authority and the Michigan Next Energy Authority, transferring all functions for both to the Michigan Strategic Fund (MSF) Board.
"Consolidating these authorities with the strategic fund reflects changes to our tax code and the move away from credits to a more simple, fair and efficient system, and aligns and streamlines functions to enable better management as well as use of taxpayer dollars," Snyder said.
The executive order also transfers portions of the Prevailing Wage on State Projects, the Non-Incorporated Private Educational Institutions Act, and the Michigan General Corporations Act from the MSF to the Department of Licensing and Regulatory Affairs (LARA), to better align expertise and oversight of these functions within the department.
More detailed information is included in E.O. 2012-9.