MI HB5934

Establishes Part 198 of the Natural Resources and Environmental Protection Act to implement the Clean Michigan Initiative Reauthorization program, authorizing bonds to fund environmental and natural resource projects across the state.

Allocates bond proceeds totaling $10 billion across ten categories: $2 billion for facility remediation and contaminated site response; $1 billion for waterfront improvements; $750 million for contaminated lake and river sediment remediation; $750 million for pollution prevention; $500 million for water quality monitoring; $1 billion for pollution prevention programs; $1 billion for lead hazard abatement; $500 million for state park infrastructure; $500 million for local recreation projects; and $2 billion for air quality mitigation in counties with population exceeding 1.5 million.

Creates a grant and revolving loan program allowing local units of government to receive up to $500 million in grants and $500 million in loans for brownfield remediation and redevelopment on eligible properties with economic development potential, with loans bearing interest at no more than 50% of prime rate and repayment terms of 5-15 years.

Establishes oversight requirements including annual reporting to legislature on bond spending, project lists, and outcomes; requires auditor general to conduct biennial performance audits of state programs funded through the initiative.

Prohibits grant or loan funding for projects located at or benefiting gaming facilities, professional sports stadiums, or areas designated for such uses under the economic development corporations act.