MI HB5406

Creates a Water Asset Management Council within the Michigan Infrastructure Council, composed of 9 voting members appointed from the Department of Environmental Quality, Michigan Municipal League, Michigan Townships Association, Michigan Association of Counties, Michigan Association of Drain Commissioners, regional authorities, water infrastructure associations, and regional representatives.

Requires asset owners serving 1,000+ individuals and subject to National Pollutant Discharge Elimination System permits or Safe Drinking Water Act requirements to develop and submit asset management plans covering drinking water, wastewater, and stormwater infrastructure by October 1, 2019.

Mandates the Water Asset Management Council develop templates for asset management plans by October 1, 2019, with required components including asset inventory, level of service analysis, risk of failure analysis, revenue/expense projections, and performance outcomes analysis.

Requires asset owners to implement approved asset management plans by October 1, 2024, with plans valid for a minimum of 3 years and subject to Water Asset Management Council review within 6 months of submission.

Establishes annual reporting requirements to the Michigan Infrastructure Council and legislature on asset conditions, investment goals, and council activities, with the Department of Technology, Management, and Budget serving as central data storage agency.