MI SB0576

Creates the Energy Efficiency Revolving Fund within the state treasury to finance state projects that reduce Michigan's carbon footprint, with money remaining in the fund at fiscal year end rather than lapsing to the general fund

Requires the Department of Management and Budget to oversee the fund, coordinate project calls, and prioritize awards, with administrative costs capped at 10% of total project costs

Authorizes the fund to provide technical assistance to state and local entities for leveraging federal and other financing sources for energy efficiency initiatives

Mandates the department apply for federal elective payments under 26 USC 6417 and 6418, with most payments deposited back into the fund (except those for State Building Authority-financed projects, which go to the general fund)

Requires annual reporting to legislative appropriations subcommittees by February 1, detailing funded projects, amounts awarded, participating agencies, and anticipated energy savings