MI SB0662

Revises the definition of "normal level" for inland lakes to include target water elevation levels based on geodetic vertical datum with ranges for tolerance, operational conditions, seasonality, and regional considerations.

Clarifies that inland lakes maintain normal levels during temporary fluctuations from weather or natural events, authorized construction activities, or when county infrastructure operations are reasonably intended to maintain normal levels.

Exempts contracts or notes under $600,000 from the revised municipal finance act, 2001 PA 34, instead subjecting them to the agency financing reporting act, 2002 PA 470.

Exempts bonds and notes issued for lake level projects from section 505 of the revised municipal finance act, 2001 PA 34.

Effective date: 91 days after final adjournment of the 2024 regular session (sine die).