MI SB0445

Amends Michigan's transportation funding law to establish procedures for the comprehensive transportation fund, which receives state sales tax revenue and distributes funds to public transit authorities and agencies.

Establishes funding priorities for the comprehensive transportation fund: first for bond debt service, second for departmental administration costs, and third for operating grants to eligible transit authorities and agencies based on service area population and eligibility criteria.

Requires eligible transit authorities and agencies receiving funds to provide preferential fares for seniors and persons with disabilities at no more than 50% of regular fares, and prohibits charter service except on an incidental basis.

Authorizes eligible authorities to issue short-term notes (maturing within 13 months) to anticipate comprehensive transportation fund revenues, with principal amounts limited to 85% of expected annual fund distributions and subject to state transportation commission approval.

Establishes a $2 million annual credit program allowing cities, villages, and townships within regional transit authorities to receive fund credits based on population, usable for reducing public transportation operating deficits within the authority's jurisdiction.