Natural resources: trust fund; Michigan water trust fund; provide for. Amends 1994 PA 451 (MCL 324.101 - 324.90106) by adding pt. 12.

This bill establishes the Michigan Water Trust Fund within the state treasury to manage and protect the state's water resources for current and future generations. The fund will be financed through royalties collected by the Department of Environment, Great Lakes, and Energy, with strict rules ensuring that at least $750 million in principal remains invested while allowing up to 70% of annual earnings to be used for specific purposes. A new board will oversee the distribution of grant money to support low-income households with water access, assist communities during water emergencies, replace lead service lines, test private wells, and fund broader water infrastructure and flood resilience projects. The legislation also defines the roles of the state department and the newly created board, which will consist of the department director and six members appointed by the governor to review and recommend grant recipients.