MI SB1016

Authorizes bonds for transportation economic development fund projects under procedures outlined in 1951 PA 51.

Allocates first $5,000,000 annually to forest roads program, distributed to qualified counties based on their proportion of commercial forest, national park, and national lakeshore acreage.

Distributes next $2,500,000 annually for road and street improvements eligible for federal aid in cities and villages with populations of 5,000 or greater in rural counties.

Allocates remaining fund balance as: 50% for economic development road projects in targeted industries, 25% for congestion reduction projects in urban counties (over 400,000 population) using specified population-based percentages, and 25% for rural county primary road and street improvements.

Appropriates $12,000,000 annually for fiscal years 2011-2014 from the fund to the state trunk line fund for federal-aid highway matching, with corresponding reduction in targeted industry distributions.