MI SB0745

Redefines "port facilities" to focus on structures and improvements alongside navigable water used for loading/unloading cargo, vessel operations, cargo handling and storage, or processing of goods in maritime transport.

Prohibits port authorities from exercising jurisdiction over state-owned property or infrastructure and requires authority projects to not interfere with construction, maintenance, or operation of state infrastructure on commercially navigable waters.

Clarifies that port authorities may finance projects (in addition to acquiring, constructing, and operating them) and expands authority to accept grants and loans from federal, state, municipal, foundation, and private sources.

Allows revenue bonds to mature up to 40 years after issuance and extends bond financing authority to cover projects financed by the authority, not just those under its direct control.

Modifies tax exemption provisions to clarify that property loses exemption when leased to private enterprises or used under concession agreements, and updates language regarding tax treatment of bonds and indebtedness issued by authorities.