MI SB0849

Requires all state agencies to provide asset information to the department and publish it on their website homepages in spreadsheet-compatible format, updated annually as of January 1.

Each asset listing must include the asset name, description, fair market value, utilization rate, and whether it is owned or leased by the agency.

Defines "asset" as real property and vehicles valued at $5,000 or more owned or controlled by state agencies.

Requires the department to develop and operate a searchable, publicly accessible website at no cost by January 1, 2017 to consolidate all asset information from state agencies.

Defines "fair market value" as the highest estimated price property would bring on the open market and "utilization rate" as the percentage of real property occupied or percentage of time vehicles are used for agency functions.