MI SB0109

Increases the minimum balance for the disaster and emergency contingency fund from $2,500,000 to $75,000,000, with the legislature required to appropriate funds if the balance falls below this amount

Creates a new state hazard mitigation fund in the state treasury, which can receive up to $500,000 annually from the disaster and emergency contingency fund when the contingency fund balance exceeds $75,000,000

Establishes grant eligibility for the hazard mitigation fund limited to state agencies, local governments, and federally recognized tribal governments that maintain FEMA-approved local hazard mitigation plans

Increases maximum assistance grants to counties and municipalities: up to $2,500,000 for populations under 75,000; up to $5,000,000 for populations 75,000-499,999; and up to $10,000,000 for populations of 500,000 or more

Requires the director to submit an annual report to the legislature within 90 days of fiscal year end detailing fund balances, expenditures, federal reimbursements, and administrative costs for both funds