HB 6037 Summary

• Authorizes local units of government to establish voluntary property assessment programs allowing property owners to finance environmental hazard, water usage improvement, energy efficiency, and renewable energy projects through assessments on their property.

• Assessments collected through property tax bills with same priority and status as property tax liens; local governments may issue bonds or notes secured by assessment payments to finance projects.

• Requires local governments to adopt resolution of intent, conduct public hearing, and prepare detailed report including contract forms, eligibility requirements, repayment terms, and funding plans before establishing a program.

• Permits financing through multiple sources including municipal bonds, state water pollution control and drinking water revolving funds, grants, and other available funds, with principal forgiveness or forbearance programs supported by state funds.

• Allows local units of government to partner with each other, the Michigan Finance Authority, or other entities to implement programs jointly, with multistate coordination possible through state revolving funds.