Michigan House Bill HB5770

Michigan 2023-2024 Regular Session

• Introduced: 5/30/24
• Refer: 5/30/24
• Report Pass: 6/11/24

Caption

State management: funds; Michigan mobility trust fund; create. Amends 2000 PA 489 (MCL 12.251 - 12.262) by adding sec. 4a. TIE BAR WITH: SB 0559'23, SB 0562'23, HB 5769'24

Impact

The introduction of this bill is expected to have significant implications for state funding and mobility infrastructure improvements. By creating a designated trust fund for mobility initiatives, the state hopes to streamline financial support for transportation projects, enhancing the ability to invest in critical infrastructure. This measure aims to ensure that financial resources allocated towards mobility are sustained and do not lapse into the general fund at the fiscal year's close.

Summary

House Bill 5770 seeks to establish the Michigan Mobility Trust Fund within the state treasury, as an amendment to the Michigan Trust Fund Act. This fund will be managed by the state treasurer, who is authorized to receive and allocate money or other assets from various sources towards this project. The bill outlines that funds deposited would be used specifically for purposes sanctioned under the transformational projects authority act, aiming to support vital mobility projects across Michigan.

Contention

Notable points of contention may arise regarding the governance of the trust fund and how expenditures will be approved. Concerns exist about the accountability mechanisms established for the fund's administration and whether it aligns with the priorities of local communities. Furthermore, the bill's enactment is contingent on the passage of several other bills, raising questions on legislative negotiation and consensus-building within the Michigan legislature.