The bill amends the existing Michigan transportation law to establish a new program aimed at providing financial assistance to businesses affected by road construction projects. Specifically, it introduces a "road construction business loss reimbursement program" that allows businesses to apply for grants to compensate for revenue losses incurred due to unexpected street closures or prolonged construction timelines. The maximum grant amount is set at $15,000 per year, and businesses must demonstrate a significant decline in revenue based on their average profits from the previous three tax years to qualify.

Additionally, the bill outlines the application process, criteria for grant approval, and reporting requirements for the program. The Michigan Department of Transportation is tasked with administering the program and will prioritize grant applications based on factors such as the rate of revenue decline, duration of construction, and severity of traffic disruption. A dedicated fund, the road construction business loss reimbursement fund, is created to manage the financial resources for this program, with the state treasurer responsible for its oversight and investment.

Statutes affected:
Senate Introduced Bill: 247.651, 247.675