MI SB0469

Creates 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 in the state.

Directs the State Treasurer to credit to the fund all amounts described in section 17(11) of the Local Community Stabilization Authority Act (2014 PA 86).

Authorizes fund expenditures for operational costs of delegated authorities, design and engineering costs, bond payments for dam repairs, and reimbursement to local governments for property tax losses from dam failures.

Designates the Four Lakes Task Force as the delegated authority for managing the four lakes dams with authority to determine how fund money is distributed for those specific dams.

Requires annual appropriation of available fund money with remaining balances retained in the fund; upon fund dissolution, any remaining assets revert to the state general fund.