MI SB0779

Simplifies annual reporting requirements by removing the mandatory report form and allowing distributors and manufacturers to file reports in a form prescribed by the Department of Treasury instead of using the specific table format previously required.

Establishes a new quarterly refund process allowing overredeemers (those who redeem more deposits than they collect) to request interim refunds from the Department of Treasury for the first, second, or third quarter of each year, with payment due within 30 days of the request.

Modifies the definition of "overredeemer" and "underredeemer" to include refunds received under the new quarterly refund provision in the calculation, affecting how deposit and redemption values are measured.

Eliminates the retroactive carryback credit for manufacturers who no longer originate deposits and limits the forward carryover of overredemption credits to 3 years for entities that become underredeemers again.

Restructures the bottle deposit fund as a revolving fund where collected money from underredeemers is allocated 75% to the cleanup and redevelopment trust fund and 25% to dealers, with interest earnings credited back to the fund rather than reverting to the general fund.