MI SB1302

Creates the Michigan Port Authority as a public body corporate and politic located within the Department of Licensing and Regulatory Affairs to develop and manage port facilities statewide.

Establishes an 11-member board of directors appointed by the governor with senate consent, representing specific Michigan counties and regions, with terms ranging from 1-3 years depending on appointment category.

Authorizes the authority to issue revenue bonds and notes (not backed by state general funds) to finance port facility development, with maturity up to 40 years and flexible interest rate structures.

Grants the authority broad powers to acquire, construct, lease, and operate port facilities; solicit grants and loans from federal and local governments; and make related financial investments and guarantees.

Exempts the authority's property, income, and bond operations from state and local taxation and appropriates $100,000 from the general fund for initial implementation costs.