MI SB1053

Creates a road construction business loss reimbursement program administered by the Michigan Department of Transportation to provide grants to businesses for revenue lost due to unexpected street closures or construction projects extending significantly beyond scheduled end dates.

Sets maximum grant amount at $15,000 per year per business, with grant amounts equal to the recipient's documented revenue decline calculated using average profits from the preceding 3 tax years.

Requires the department to establish a review process and notify applicants of approval or rejection within 120 days, prioritizing grants based on rate of revenue decline, construction duration, proximity to construction, traffic disruption severity, pedestrian access loss, and other relevant criteria.

Establishes the road construction business loss reimbursement fund in the state treasury, with the department as administrator and money available only for appropriation to fund and operate the program.

Requires the department to report annually by December 1 to legislative transportation and appropriations committees on program utilization, including number of applications received, names of applicants, approval/denial status, and construction project status reports for approved grants.