MI HB6031

Creates an information, communications, and technology innovation revolving fund and investment board within the Department of Technology, Management, and Budget to provide loans for technology improvements.

Establishes a 5-member board consisting of the department director, state chief information officer, Michigan Economic Development Corporation CEO, and two public members appointed by the governor to oversee the loan program.

Authorizes loans up to $250,000 to state agencies, local governments, colleges, universities, school districts, and nonprofit organizations providing public services, with loans exceeding $250,000 available for multiagency initiatives, shared service projects, or high-return efficiency improvements.

Specifies loan terms not to exceed 5 years with interest rates set by the board, and requires projects to be evaluated based on funding priorities, return on investment, transferability, process improvements, innovation, timeline, sustainability, and geographic location.

Requires the board to submit quarterly status reports and annual assessments to the governor and legislative appropriations committees, with fund revenues from loan repayments remaining in the fund rather than reverting to the general fund.