MI HB4468

Creates regional airport authorities as public bodies corporate that can acquire and operate publicly owned airports and airport facilities, with governance by a board of 5-9 members serving staggered 3-year terms.

Establishes board composition requirements including at least one member from outside the local government, prohibition on more than 45% elected officials, and a minimum requirement for members to have relevant professional experience in aviation, business, finance, or related fields.

Transfers operational jurisdiction, assets, contracts, licenses, and financial obligations of airports to regional authorities on the "approval date" (when FAA certifies the authority as sponsor), while relieving local governments of further operational costs and responsibilities.

Requires regional authorities to assume employee pension and benefit obligations of transferring airport employees with substantially similar terms, and establishes retirement systems that credit prior service with the local government.

Authorizes regional authorities to issue bonds, establish fees and charges, enter into contracts, exercise police powers through appointed officers, and prohibits authorities from imposing taxes or pledging airport revenues without local government approval.