MI SB1031

Creates the Michigan Safeguarding Tomorrow Revolving Loan Fund within the state treasury to receive money and assets from any source for deposit and investment

Designates the Department of Emergency Management as administrator of the fund, with the state treasurer directing fund investments and crediting interest and earnings back to the fund

Requires fund money to be expended on appropriation in accordance with the Safeguarding Tomorrow Through Ongoing Risk Mitigation Act (Public Law 116-284)

Allows the department to expend all money in the fund per fiscal year and ensures fund balance does not lapse to the general fund at fiscal year-end

Amends the title of the 1976 Emergency Management Act to reference the creation of certain funds