Bill > SB0576

This bill establishes an Energy Efficiency Revolving Fund (EERF) within the state treasury, designed to support energy-efficient projects across state agencies. The fund can receive money from various sources, with investments directed by the state treasurer, and any interest or earnings will be credited back to the fund. The fund's money will not revert to the general fund at the end of each fiscal year. The department responsible for the fund will provide oversight, coordinate project selection, and prioritize projects that reduce the state's carbon footprint, with a focus on supporting technical assistance to state and local entities seeking to leverage federal financing. Administrative costs are limited to 10% of total project costs. The department will set specific terms with participating state agencies, including project scope, funding commitments, and data reporting requirements. The bill also mandates that the department apply for federal elective payments under specific federal tax code sections, with these payments to be deposited into the fund to support qualifying projects. Additionally, the department must submit an annual report to legislative appropriations subcommittees detailing funded projects, including financial information, anticipated savings, and potential revenue generation. The bill aims to create a sustainable mechanism for improving energy efficiency across state operations while providing transparency and financial accountability.

Budget and Finance

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-SB-0576