MI SB0465

Allocates 23-27% of federal highway research, planning, and construction funds to local jurisdiction programs after deducting specifically allocated and competitively awarded federal funds.

Requires the department to award state trunk line fund money to local road agencies in exchange for federal aid obligation authority at a rate of 90 cents per dollar of federal aid.

Establishes minimum annual state funding allocations: $25,000,000 for fiscal year 2023, $35,000,000 for fiscal year 2024, and $45,000,000 for fiscal year 2025 and each subsequent year.

Requires local road agencies to expend exchanged state money within 3 years and mandates federal wage and benefits schedules consistent with Form FHWA 1273 for contracted work.

Takes effect October 1, 2022, contingent upon Senate Bill 466 being enacted into law.