Section 324.21506a - Refined petroleum fund; creation; deposit of money or other assets; investment; money remaining at close of fiscal year; expenditures; purposes(1) The refined petroleum fund is created within the state treasury.(2) The state treasurer may receive money or other assets from any source for deposit into the refined petroleum fund. The state treasurer shall direct the investment of the refined petroleum fund. The state treasurer shall credit to the refined petroleum fund interest and earnings from refined petroleum fund investments.(3) Money in the refined petroleum fund at the close of the fiscal year remains in the refined petroleum fund and does not lapse to the general fund.(4) Money from the refined petroleum fund shall be expended, upon appropriation, only for 1 or more of the following purposes: (a) Corrective actions performed by the department pursuant to section 21320.(b) The legacy release program created in section 21519a.(c) The reasonable costs of the department in administering the refined petroleum fund and implementing part 213.(d) Not more than $5,000,000.00 annually for petroleum product inspection programs under both of the following:(i) The weights and measures act, 1964 PA 283, MCL 290.601 to 290.635.(ii) The motor fuels quality act, 1984 PA 44, MCL 290.641 to 290.650d.(e) Not more than $3,000,000.00 annually for the bureau of fire services and office of the state fire marshal, storage tank division, in the department of licensing and regulatory affairs.(f) Reimbursement by the authority to local units of government and county road commissions for the costs of corrective action to manage, relocate, or dispose of any media contaminated by regulated substances left in place within a public highway pursuant to section 21310a if all of the following occur:(i) The local unit of government or county road commission has submitted to the authority a claim for reimbursement on a form created by the authority.(ii) The claim for reimbursement is for reasonable and necessary eligible corrective action costs determined by the administrator pursuant to section 21515(2) to (10).(iii) The amount of reimbursement is not more than $200,000.00 per claim.(g) Not more than $5,000,000.00 annually for the department to provide grants and loans in accordance with part 196 to facilitate brownfield redevelopment at part 213 properties. Money shall not be provided under this subsection to fund the performance of response activities at a part 213 property to address contamination that is solely attributable to a release regulated under part 201.(h) The permanent closure of an underground storage tank system by the department if the underground storage tank system meets the conditions that require permanent closure under R 29.2153 of the Michigan Administrative Code or the department determines it is necessary to protect public health, safety, welfare, or the environment.Amended by 2017, Act 134,s 1, eff. 1/24/2018.Amended by 2016, Act 467,s 1, eff. 3/29/2017.Amended by 2014, Act 416,s 5, eff. 12/30/2014.Amended by 2012, Act 113,s 5, eff. 5/1/2012.Amended by 2007, Act 67,s 1, eff. 9/28/2007.Amended by 2006, Act 318, s 3, eff. 7/20/2006.Added by 2004, Act 390, s 5, eff. 10/12/2004.