MI SB0871

Creates the Michigan Infrastructure Reinvestment Fund within the state treasury to receive money and assets from any source for deposit and investment by the state treasurer.

Fund earnings and interest are credited back to the Michigan Infrastructure Reinvestment Fund, and unspent money does not lapse to the general fund at fiscal year end.

Department of Treasury serves as administrator of the fund for auditing purposes and may expend appropriated money only for public infrastructure improvements including drinking water system improvements and sewage system improvements.

Adds "Michigan Infrastructure Reinvestment Fund" to the definitions section of the Michigan Trust Fund Act alongside existing trust fund definitions.

Introduced April 12, 2016 by Senator Ananich and referred to the Committee on Government Operations.