Bill Text: MI HB5964 | 2025-2026 | 103rd Legislature | Introduced
Bill Title: State management: funds; safeguarding tomorrow revolving loan fund; create. Amends 1976 PA 390 (MCL 30.401 - 30.421) by adding sec. 19a. TIE BAR WITH: HB 5964'26
Sponsorship: Partisan Bill (Republican 1)
Status: (Introduced) 2026-05-14 - Bill Electronically Reproduced 05/13/2026 [HB5964 Detail]
Download: Michigan-2025-HB5964-Introduced.html
HOUSE BILL NO. 5964
A bill to amend 1976 PA 390, entitled
"Emergency management act,"
(MCL 30.401 to 30.421) by adding section 19a.
the people of the state of michigan enact:
Sec. 19a. (1) The safeguarding tomorrow revolving loan fund is created in the state treasury.
(2) The state treasurer shall deposit money and other assets received under section 205 of the Robert T. Stafford disaster relief and emergency assistance act, 42 USC 5135, in the safeguarding tomorrow revolving loan fund. The state treasurer may receive money and other assets from any other source for deposit in the safeguarding tomorrow revolving loan fund. The state treasurer shall direct the investment of money in the safeguarding tomorrow revolving loan fund and credit interest and earnings from the investments to the safeguarding tomorrow revolving loan fund. Money in the safeguarding tomorrow revolving loan fund at the close of the fiscal year remains in the safeguarding tomorrow revolving loan fund and does not lapse to the general fund.
(3) The department is the administrator of the safeguarding tomorrow revolving loan fund for auditing purposes.
(4) The department shall expend money from the safeguarding tomorrow revolving loan fund only for the reasonable costs of administering this section.
(5) A political subdivision or tribe may borrow money from the safeguarding tomorrow revolving loan fund in accordance with section 205 of the Robert T. Stafford disaster relief and emergency assistance act, 42 USC 5135, and the regulations promulgated under that section.
(6) As used in this section, "tribe" means an Indian tribe that is included in the list published under 25 USC 5131.
