MI SB1053

Creates a refined petroleum fund within the state treasury to receive money from any source and retain unspent balances without lapsing to the general fund.

Imposes a 1 cent per gallon environmental protection regulatory fee on all refined petroleum products sold for resale or consumption in Michigan, excluding bulk transfers and two-party exchanges.

Directs the Department of Treasury to precollect regulatory fees from petroleum refiners and importers, with collection coordinated with sales tax collection where possible.

Allocates collected fees as follows: first $20,000,000 annually to an unspecified fund, then all additional collections to the refined petroleum fund for corrective actions, administrative costs, petroleum product inspection programs (up to $5,000,000 annually), and fire services/storage tank division (up to $3,000,000 annually).

Exempts public utilities with more than 500,000 Michigan customers from the fee when petroleum is used for steam or electricity generation.