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MI SB0913
Bill
AI Summary
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Establishes a revitalization revolving loan program administered by the Department of Environmental Quality to make loans to local units of government for eligible economic redevelopment activities at certain properties.
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Loan funds shall be issued according to purposes and criteria outlined in sections 19608a through 19613 of the Natural Resources and Environmental Protection Act.
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Requires loan payments and interest to be deposited back into the revitalization revolving loan fund established in section 20108a to sustain the program.
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Takes effect 90 days after enactment, contingent upon the simultaneous enactment of Senate Bills 908, 909, 910, 911, and 912.
Legislative Description
Environmental protection; funding; revitalization revolving loan program; modify criteria for loans. Amends sec. 20108b of 1994 PA 451 (MCL 324.20108b).
State agencies (existing): environmental quality
Last Action
Assigned Pa 0476'16 12/30/16 Addenda
12/30/2016