MI HB6355

Modifies subsection (13) of MCL 211.44a to add new subsection (14) allowing counties to expend revenue sharing reserve funds without limitation for any capital project beginning in fiscal years after September 30, 2010.

Removes the previous spending cap that limited county expenditures from the revenue sharing reserve fund to amounts equal to Glenn Steil state revenue sharing payments from fiscal year 2004, adjusted annually for inflation.

Allows counties greater flexibility in using reserve funds accumulated from the split property tax levy (summer collection beginning in 2005) for capital infrastructure and improvement projects.

Maintains all existing provisions regarding the establishment and funding of the revenue sharing reserve fund, including deposit requirements from 2004-2006 property tax levies.