HB 5564 - Public Lighting Infrastructure and Housing Stock Inventory Investment Authority Act

• Establishes public lighting infrastructure and housing stock inventory investment authorities in Michigan cities with populations over 600,000, governed by a 5-member board of directors appointed by the mayor, governor, and city council.

• Authorizes authorities to issue bonds and notes for street lighting infrastructure, electric distribution systems, and housing programs; bond proceeds are exempt from state taxation except transfer and franchise taxes.

• Requires authorities to enter into best value operating agreements with electric distribution infrastructure owners to create unified electric systems and develop housing programs matching inventory with first-time homebuyers using wrap-around expense budgets.

• Mandates annual operating plans submitted by September 1, monthly progress reports to the city mayor and council, and an annual report to the governor and legislature by July 1 detailing operations and forecasts for sustainable lighting upgrades.

• Provides state support of $500,000 annually per authority and authorizes a $50 million annual loss reserve for bad debt payments from local governments or school districts under fiscal oversight.