MI HB6242

Authorizes Michigan to issue general obligation bonds not exceeding $1,500,000,000 with full faith and credit pledged for repayment.

Bond proceeds finance environmental, natural resources, and public health programs including water and sewer infrastructure repair, water quality improvement, contaminated drinking water replacement, wastewater treatment systems, contamination cleanup, sediment removal, lead abatement, pollution prevention, and waterfront revitalization.

Requires Secretary of State to submit the bond issuance question to voters at the next general election, with repayment from the state's general fund.

Bonds cannot be issued unless approved by majority vote of electors on the ballot question.

Legislature must annually appropriate sufficient funds from the general fund to pay principal, interest, and costs associated with outstanding bonds authorized under this act.