HOUSE BILL NO. 4951

A bill to provide for the imposition and collection of taxes; to provide for the establishment of procedures for the collection, administration, and enforcement of taxes; to provide for the disposition of the tax; to create the comprehensive road funding fund; to prescribe the powers and duties of certain state and local government officers and entities; and to prescribe penalties.

the people of the state of michigan enact:

Sec. 1. This act may be cited as the "comprehensive road funding act".

Sec. 3. As used in this act:

(a) "Department" means the state transportation department.

(b) "Maintenance" means that term as defined in section 10c of 1951 PA 51, MCL 247.660c.

(c) "Preservation" means that term as defined in section 10c of 1951 PA 51, MCL 247.660c.

Sec. 5. (1) The comprehensive road funding fund is created in the state treasury.

(2) The state treasurer shall deposit money and other assets received from any source in the fund. The state treasurer shall direct the investment of money in the fund and credit interest and earnings from the investments to the fund.

(3) The department is the administrator of the fund for audits of the fund.

(4) The department shall expend money from the fund, on appropriation, only for 1 or more of the following purposes:

(a) To fund road construction, preservation, and maintenance in this state.

(b) To replace revenue lost as a result of diverting or reducing revenue raised to fund road construction.