MI SB0319

Creates a strategic water quality initiatives loan program within the state water pollution control revolving fund that provides low or no-interest loans to municipalities and residents for water quality improvements.

Establishes a municipality loan program for improvements to reduce groundwater or stormwater entering sanitary or combined sewers, upgrades to failing septic systems, and construction of innovative wastewater and stormwater technologies.

Establishes a resident loan program administered through grants to community development financial institutions or similar entities to fund improvements to septic systems and water quality projects for individual homeowners.

Authorizes the department to annually establish interest rates for loans and develop criteria for asset management programs that identify water quality improvement projects.

Takes effect only if Senate Bill 320 of the 101st Legislature is enacted into law.