The proposed bill seeks to amend the Natural Resources and Environmental Protection Act by introducing Part 198, which establishes the Clean Michigan 2 Initiative Implementation. This new part includes definitions for essential terms such as "bonds," "corrective action," and "water infrastructure." It grants the state administrative board the authority to issue bonds to finance various environmental and natural resource programs, highlighting their significance for public health and safety. The bill also details the allocation of bond proceeds for cleanup, redevelopment, water infrastructure projects, and pollution prevention programs, while establishing the Clean Michigan 2 Initiative Bond Fund for managing and reporting these funds. Importantly, it prohibits funding for projects on land associated with gaming facilities or professional sports teams.

Additionally, the bill amends existing laws related to grants and loans for brownfield projects, specifically under section 19808(1)(a)(iv), by introducing new eligibility criteria that require applicants to be local units of government. It sets limits on the number of grants and loans per year and establishes monetary caps, while allowing exceptions for projects that demonstrate significant economic and environmental benefits. The bill outlines conditions for awarding grants and loans, necessitating measurable economic benefits and compliance with agreement terms, including progress reports and financial assurances. It also mandates a performance audit every two years to ensure accountability and transparency in the use of public funds.

Statutes affected:
House Introduced Bill: 324.101, 324.90106