Bill Text: MI HB6244 | 2017-2018 | 99th Legislature | Introduced
Bill Title: Environmental protection; funding; clean Michigan initiative reauthorization funds; provide for distribution and allocation. Amends 1994 PA 451 (MCL 324.101 - 324.90106) by adding secs. 19806 & 19807. TIE BAR WITH: HB 6243'18, HB 6245'18
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2018-08-15 - Bill Electronically Reproduced 06/12/2018 [HB6244 Detail]
Download: Michigan-2017-HB6244-Introduced.html
HOUSE BILL No. 6244
June 12, 2018, Introduced by Reps. Sowerby, Sabo, Rabhi, Green, Chang, Geiss, Lasinski, Elder, Hertel, Chirkun, Yancey, Yanez, Moss, LaGrand, Sneller, Zemke, Cochran, Brinks, Singh, Durhal, Greig, Cambensy, Neeley, Faris, Wittenberg, Phelps, Gay-Dagnogo, Hammoud and Jones and referred to the Committee on Natural Resources.
A bill to amend 1994 PA 451, entitled
"Natural resources and environmental protection act,"
(MCL 324.101 to 324.90106) by adding sections 19806 and 19807.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 19806. (1) The clean Michigan initiative reauthorization
bond fund is created in the state treasury.
(2) The fund shall consist of all of the following:
(a) The proceeds of sales of the bonds and any premium and
accrued interest received on the delivery of the bonds.
(b) Any interest or earnings generated by the proceeds
described in subdivision (a).
(c) Any repayment of principal and interest made under a loan
program authorized in this part.
(d) Any federal or other funds received.
(3) The department of treasury may establish restricted
subaccounts within the fund as necessary to administer the fund.
Sec. 19807. (1) The total proceeds of all bonds shall be
deposited into the fund and allocated as follows:
(a) Not more than $500,000,000.00 for water and sewer
infrastructure projects.
(b) Not more than $100,000,000.00 shall be used for water
quality monitoring and water resources protection and water
pollution control activities.
(c) Not more than $100,000,000.00 shall be used for nonpoint
source pollution prevention and control projects or wellhead
protection projects.
(d) Not more than $50,000,000.00 for failing on-site
wastewater treatment systems.
(e) Not more than $400,000,000.00 shall be used for response
activities at facilities.
(f) Not more than $25,000,000.00 shall be used for remediation
of contaminated lake and river sediments.
(g) Not more than $250,000,000.00 shall be used to abate lead
hazards.
(h) Not more than $25,000,000.00 shall be used for pollution
prevention programs.
(i) Not more than $50,000,000.00 shall be used for waterfront
improvements.
(2) The state treasurer shall direct the investment of the
fund. Except as may be required to maintain the exclusion from
gross income of the interest paid on the bonds or to comply
otherwise with state or federal law, interest and earnings from
investment of the proceeds of any bond issue shall be allocated in
the same proportion as earned on the investment of the proceeds of
the bond issue.
(3) Except as may be required to maintain the exclusion from
gross income of the interest paid on the bonds or to comply
otherwise with state or federal law, all repayments of principal
and interest earned under a loan program authorized by this part
shall be credited to the appropriate restricted subaccount of the
fund and used for the purposes authorized for that subaccount or to
pay debt service on any obligation issued which pledges the loan
repayments and the proceeds of which are deposited in that
subaccount.
(4) The bond proceeds shall be expended in an appropriate
manner that maintains the tax exempt status of the bonds.
(5) The unencumbered balance in the fund at the close of the
fiscal year shall remain in the fund and shall not revert to the
general fund.
(6) The department shall provide an annual accounting of bond
proceeds spending on a cash basis to the department of treasury in
order for the state to comply with requirements set forth for
issuing tax exempt bonds, including arbitrage rebate calculations.
This accounting shall be submitted to the governor, the standing
committees of the house of representatives and the senate that
primarily address issues pertaining to the protection of natural
resources and the environment, and the appropriations committees in
the house of representatives and the senate.
Enacting section 1. This amendatory act does not take effect
unless all of the following bills of the 99th Legislature are
enacted into law:
(a) Senate Bill No.____ or House Bill No. 6243 (request no.
06187'18).
(b) Senate Bill No.____ or House Bill No. 6245 (request no.
06531'18).
Enacting section 2. This amendatory act does not take effect
unless the question provided for in the clean Michigan initiative
reauthorization act is approved by a majority of the registered
electors voting on the question at the next general election.
