- Associated Press - Tuesday, June 23, 2015

LANSING, Mich. (AP) - Michigan will buy back $100 million of vouchers related to a business venture fund program.

Lt. Gov. Brian Calley signed legislation for the buyback Tuesday.

Without the buyback, the vouchers would be used as backing for money provided by banks to the Venture Michigan Fund. The fund was created in 2003 as an effort to lure startup businesses to the state.

Calley also has signed a bill limiting liability for horse owners in certain cases if someone riding the animal is injured. And he’s also signed a bill removing the requirement that anyone trying to register as a building official, inspector or plan reviewer has to be employed by a government agency.

Gov. Rick Snyder’s office says Calley signed the bills because Snyder is spending time with his family.

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