MI HB5425

Creates a drinking water emergency loan fund within the state treasury to provide interest-free emergency loans to public water supply owners and operators for contamination remediation.

Loan eligibility requires that the public water supply has no other source of potable drinking water and the applicant cannot secure other funding sources to address the contamination threat.

Sets maximum loan principal at $25,000 with repayment required within 12 months and requires applicants to submit financial information for a background check.

Allows the state treasurer to receive deposits from any source, invest fund assets, and credit interest earnings back to the fund, with unexpended balances remaining in the fund at fiscal year-end.

Designates the department as fund administrator for auditing purposes and requires loan agreements to include department-determined terms in addition to principal, repayment, and financial verification requirements.