State management: funds; energy efficiency revolving fund; establish. Amends 1984 PA 431 (MCL 18.1101 - 18.1594) by adding sec. 475.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill establishes an Energy Efficiency Revolving Fund within the State Treasury. The fund will be used to invest in projects that reduce Michigan’s carbon footprint and provide technical assistance to state and local entities. The Department of Energy, Natural Resources and Environment will oversee the fund, manage investments, and track project savings.
Key provisions
- Creates the Energy Efficiency Revolving Fund within the State Treasury.
- Allows the State Treasurer to receive and invest funds in the fund.
- The Department of Energy, Natural Resources and Environment will oversee the fund and prioritize projects.
- State administrative costs for the fund are limited to 10% of project costs.
- The Department will seek federal funding through elective payments.
- Projects receiving federal elective payments will receive preference in future funding.
- The Department must submit an annual report detailing funded projects and savings.
- Money in the fund does not lapse to the general fund.
Who is affected
- State Agencies
- Local Entities
- The Department of Energy, Natural Resources and Environment
- Federal Government
- Michigan Residents (through reduced carbon footprint)
Notable changes
Bill text
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Document of record
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- Senate Introduced Bill
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