State finance: authorities; use of grant funds and issuance of revenue bonds; modify. Amends title & secs. 2, 8, 9, 10, 13, 14, 14a, 16, 18, 20, 23, 24 & 25 of 1978 PA 639 (MCL 120.102 et seq.) & adds sec. 19a.

SB 52 amends Michigan's Port Authority Act (1978 PA 639) to update financial rules for port authorities. It modifies how these authorities manage grant funds, issue revenue bonds, and use "ancillary financing facilities" like interest rate swaps or insurance contracts. The bill adds new language (Section 19a) and revises multiple existing sections to clarify financial operations. This procedural update directly affects port authorities managing state-owned port facilities, such as piers, docks, and related infrastructure, without creating new facilities or changing their core responsibilities.