MI HB5581

Creates the refined petroleum fund within the state treasury to receive money and assets from any source for deposit and investment.

Fund earnings and interest remain in the fund and do not lapse to the general fund at the end of the fiscal year.

Money from the fund may be expended for corrective actions by the department, administrative costs for implementing petroleum regulations, and gasoline inspection programs under the Weights and Measures Act and Motor Fuels Quality Act.

Eliminates the December 31, 2016 sunset date on gasoline inspection program funding, making the funding permanent.

Allows the legislature to determine other purposes for fund expenditures upon appropriation.