Drains: financing; interest charged for drain projects; limit. Amends sec. 278 of 1956 PA 40 (MCL 280.278).

Summary

The bill revises the state's drain‑project financing rules by setting caps on how much interest can be charged and establishing limits on financing arrangements. It applies to local governments and other entities that fund or manage drainage infrastructure, aiming to keep project costs predictable and affordable.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share