This bill amends the Natural Resources and Environmental Protection Act to create a new section dedicated to Brownfield Redevelopment, introducing definitions for terms such as "baseline environmental assessment," "brownfield project," and "eligible activities." It establishes a Clean Michigan Initiative Grant and Revolving Loan Program to provide financial assistance to local governments for eligible activities related to the redevelopment of contaminated properties. The funding for this program will come from sources like the Clean Michigan Initiative Bond Fund and the State Brownfield Redevelopment Fund. The bill outlines specific eligibility criteria for grants and loans, including the requirement for applicants to demonstrate their ability to manage funds and maintain projects, as well as limits on funding amounts and a detailed application process.

Additionally, the bill includes provisions for the financial terms of loans, stipulating that loan recipients must repay loans in equal annual installments starting no later than five years after the first draw, with a maximum repayment period of 15 years. It also establishes a revitalization revolving loan program, limiting recipients to one grant or loan per year, not exceeding $1,000,000. The bill mandates that funds from the refined petroleum fund be allocated for specific purposes and ensures that these funds do not lapse at the end of the fiscal year. Throughout the bill, language changes include replacing "shall" with "must" and clarifying criteria for awarding grants and loans, enhancing the overall clarity and enforceability of the provisions.

Statutes affected:
Substitute (S-1): 324.19608
Senate Introduced Bill: 324.19608