This bill amends the existing Michigan transportation law to establish a new program aimed at supporting businesses affected by road construction. Specifically, it introduces a "road construction business loss reimbursement program" that provides grants to businesses that experience a significant decline in revenue due to unexpected street closures or prolonged construction projects. The maximum grant amount is set at $15,000 per year, and businesses must demonstrate their revenue decline based on an average of profits from the previous three tax years. The bill outlines the application process, criteria for grant approval, and mandates a reporting requirement to the legislature regarding the program's utilization.

Additionally, the bill creates a dedicated fund, the "road construction business loss reimbursement fund," within the state treasury to manage the financial resources allocated for this program. The state treasurer is responsible for overseeing the fund's investments and ensuring that the money is used appropriately for the program's operations. The department will also establish a review process for grant applications and prioritize funding based on specific criteria related to the impact of construction on businesses.

Statutes affected:
Senate Introduced Bill: 247.651, 247.675