MI SB1032

Amends Michigan's 1951 transportation law to modify definitions and requirements for public transportation funding and reporting.

Requires the State Transportation Commission to submit annual reports by May 1 detailing estimated fund distributions to eligible authorities, intercity carriers, governmental agencies, and the department, including breakdowns for capital acquisitions versus operating expenses.

Clarifies that eligible authorities under the Detroit Area Regional Transportation Authority Act (in addition to the Metropolitan Transportation Authorities Act) must have their financial transactions audited according to applicable law, with audit costs paid by the authority.

Establishes a task force composed of Michigan public transit associations, railroad associations, and the Auditor General to assist the department in developing progress report requirements for transportation fund distributions.

Makes technical amendments to update terminology and clarifies provisions regarding how $2,000,000 annually from transportation distributions must be returned to cities, villages, and townships within eligible authorities for public transportation purposes, with specific procedures for application and credit use.

Takes effect October 1, 2010, contingent on Senate Bill 1031 being enacted into law.