HB 6248 Summary

• Creates a lead abatement fund within the state treasury to receive money and assets from any source for lead remediation purposes.

• Directs the state treasurer to invest fund assets and credit all interest and earnings back to the fund, with balances carrying over annually without lapsing to the general fund.

• Establishes the Department of Environmental Quality as administrator of the lead abatement fund for auditing purposes.

• Restricts fund expenditures to lead abatement grants issued under section 11f, only upon legislative appropriation.

• Bill takes effect only if HB 6243, HB 6244, HB 6245, and HB 6249 are enacted and voters approve the Clean Michigan Initiative reauthorization at the next general election.