SB-0799, As Passed House, November 28, 2007
September 23, 2007, Introduced by Senator SWITALSKI and referred to the Committee on Appropriations.
A bill to amend 1984 PA 22, entitled
"Michigan civilian conservation corps act,"
by amending the title and section 12a (MCL 409.312a), the title as
amended by 1994 PA 394 and section 12a as amended by 2002 PA 57.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
An act to establish the Michigan civilian conservation corps;
to prescribe the powers and duties of certain state officers,
agencies, and departments; to create and provide for the use of an
fund; and to provide for
an appropriation appropriations.
Sec. 12a. (1) The Michigan civilian conservation corps
endowment fund is created within the state treasury.
(2) The state treasurer may receive money or other assets from
any source for deposit into the endowment fund. The state treasurer
shall direct the investment of the endowment fund. The state
treasurer shall have the same authority to invest the assets of the
endowment fund as is granted to an investment fiduciary under the
public employee retirement system investment act, 1965 PA 314, MCL
the endowment fund interest and earnings from endowment fund
(3) Money in the endowment fund at the close of the fiscal
year shall remain in the endowment fund and shall not lapse to the
(4) The department, with the concurrence of the commission,
shall expend only the interest and earnings of the endowment fund
for the operation of the corps.
(5) The department shall annually prepare a report containing
an accounting of revenues and expenditures from the endowment fund.
This report shall identify the interest and earnings of the
endowment fund from the previous year, the investment performance
of the endowment fund during the previous year, and the total
amount of appropriations from the endowment fund during the
previous year. This report shall be provided to the senate and
house of representatives appropriations committees and the standing
committees of the senate and house of representatives with
jurisdiction over issues pertaining to natural resources and the
(6) For the state fiscal year ending September 30, 2007 only,
surplus funds of $20,000,000.00 in the endowment fund are hereby
Senate Bill No. 799 as amended September 27, 2007
appropriated to the general fund.
<<(7) The department, in consultation with the commission, shall
develop recommendations for restoring revenue to the endowment fund,
including possible corporate sponsorship. By March 1, 2008, the
department shall submit a report on its recommendations to the
subcommittees of the senate and house appropriations committees with
primary responsibility for appropriations to the department.>>