MI HB4669

Creates a transportation bond repayment sinking fund to receive deposits from the state trunk line fund equal to new bonds issued by the state transportation commission, capped at $234,600,000 annually, for paying principal, interest, and early payoff of bonds.

Modifies section 11 to require money from the state trunk line fund be deposited first into the sinking fund as required by the new section 18n before funding other authorized uses like debt service, economic development transfers, and rail grade crossing improvements.

Grants the state treasurer authority to invest sinking fund assets under the same standards as the public employee retirement system investment act and designates the department as administrator for fund audits.

Restricts sinking fund expenditures to principal, interest payments, and early bond payoff only—prohibits using sinking fund money to extend bond maturity dates.

Makes various technical corrections to section 11 throughout the statute, including updating terminology and clarifying citation references related to transportation fund allocations and grant procedures.