MI SB0712

Amends sections 21528 and 50510 of the Natural Resources and Environmental Protection Act (1994 PA 451) to update securities law references.

Exempts authority bonds and notes from the Revised Municipal Finance Act (2001 PA 34) and updates references to securities act compliance from the 1964 Uniform Securities Act to include the 2008 Uniform Securities Act (2002 PA 551).

Extends maximum bond maturity period for Section 50510 authority from 20 years to 30 years from date of issuance.

Authorizes authorities to enter into interest rate exchange, swap, hedge, or similar agreements to manage debt service, subject to agency financing reporting requirements under 2002 PA 470.

Effective immediately upon Governor's approval on September 24, 2009.