This bill amends the Natural Resources and Environmental Protection Act to create a new section dedicated to Brownfield Redevelopment, establishing a Brownfield Redevelopment Grant and Revolving Loan Program. The program is designed to provide financial assistance to local governments for activities related to the remediation and redevelopment of contaminated properties. Key definitions are introduced, including "baseline environmental assessment," "brownfield project," and "eligible activities," along with specific conditions for awarding grants and loans. The bill outlines funding sources, such as the Clean Michigan Initiative Bond Fund and the State Brownfield Redevelopment Fund, and mandates annual reporting by the Department of Environment, Great Lakes, and Energy on financed projects.

Additionally, the bill includes several amendments to existing legal language, specifying that applications for grants and loans must follow a prescribed format and that decisions must be made within 90 days. It emphasizes that grants and loans should not benefit responsible parties for contamination unless certain conditions are met. The legislation also details loan repayment terms, including equal annual installments and provisions for renegotiation in cases of financial hardship. Furthermore, it introduces a revitalization revolving loan program and sets limits on the amount of grants and loans available to recipients. Overall, the bill aims to enhance brownfield redevelopment efforts in Michigan while ensuring compliance with state regulations and promoting economic and environmental benefits.

Statutes affected:
House Introduced Bill: 324.19608