MI HB4907

Establishes the Michigan Dam Repair and Improvement Fund in the Department of Treasury to provide funds for repair or replacement of the Four Lakes Dams (Secord, Smallwood, Wixom, and Sanford Dams) and other dams located in Michigan.

Directs the State Treasurer to credit the fund with amounts from section 17(11) of the Local Community Stabilization Authority Act and to invest the fund; fund consists of credited amounts, interest, earnings, and other appropriations or grants received.

Authorizes fund expenditures for operational costs of the delegated authority, design and engineering costs, bonding costs for special assessment districts, and property tax loss reimbursements to local units of government resulting from dam failures.

Designates the Four Lakes Task Force as the delegated authority for Four Lakes Dam improvements and allows delegated authorities to determine fund use for other dams in the state.

Requires annual appropriations of available fund money; remaining balances carry forward and do not lapse to the general fund, though any remaining assets dissolve to the general fund upon the fund's dissolution.