HOUSE BILL No. 5690


     April 27, 2000, Introduced by Reps. Shackleton, Scranton, Kowall, Rick Johnson and Woronchak and referred to the
Committee on Great Lakes and Tourism.


        A bill to amend 1994 PA 451, entitled

   "Natural resources and environmental protection act,"

   (MCL 324.101 to 324.90106) by adding sections 32610 and 32611.

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

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           SEC. 32610.  (1) THE SUBMERGED LOG RECOVERY FUND IS CREATED

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      WITHIN THE STATE TREASURY.

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           (2) THE STATE TREASURER MAY RECEIVE MONEY OR OTHER ASSETS

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      FROM ANY SOURCE FOR DEPOSIT INTO THE FUND.  THE STATE TREASURER

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      SHALL DIRECT THE INVESTMENT OF THE FUND.  THE STATE TREASURER

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      SHALL CREDIT TO THE FUND INTEREST AND EARNINGS FROM FUND

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      INVESTMENTS.

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           (3) MONEY IN THE FUND AT THE CLOSE OF THE FISCAL YEAR SHALL

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      REMAIN IN THE FUND AND SHALL NOT LAPSE TO THE GENERAL FUND.

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           (4) SUBJECT TO SUBSECTION (5), MONEY FROM THE FUND SHALL BE

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      USED, UPON APPROPRIATION, FOR THE ADMINISTRATIVE COSTS OF THE


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      DEPARTMENT, THE DEPARTMENT OF NATURAL RESOURCES, AND THE

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      DEPARTMENT OF STATE IN IMPLEMENTING THIS PART.

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           (5) ON DECEMBER 1, 2001 AND ON DECEMBER 1 OF EACH FOLLOWING

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      YEAR, THE STATE TREASURER SHALL TRANSFER THE BALANCE OF THE FUND

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      AS FOLLOWS:

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           (A) FIFTY PERCENT TO THE GREAT LAKES FUND CREATED IN SECTION

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      32611.

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           (B) FIFTY PERCENT TO THE FOREST DEVELOPMENT FUND ESTABLISHED

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      UNDER SECTION 50507.

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           SEC. 32611.  (1) THE GREAT LAKES FUND IS CREATED WITHIN THE

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      STATE TREASURY.

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           (2) THE STATE TREASURER MAY RECEIVE MONEY OR OTHER ASSETS

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      FROM ANY SOURCE FOR DEPOSIT INTO THE GREAT LAKES FUND.  THE STATE

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      TREASURER SHALL DIRECT THE INVESTMENT OF THE GREAT LAKES FUND.

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      THE STATE TREASURER SHALL CREDIT TO THE GREAT LAKES FUND INTEREST

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      AND EARNINGS FROM GREAT LAKES FUND INVESTMENTS.

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           (3) MONEY IN THE GREAT LAKES FUND AT THE CLOSE OF THE FISCAL

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      YEAR SHALL REMAIN IN THE GREAT LAKES FUND AND SHALL NOT LAPSE TO

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      THE GENERAL FUND.

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           (4) THE DEPARTMENT SHALL EXPEND MONEY FROM THE GREAT LAKES

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      FUND, UPON APPROPRIATION, ONLY FOR ENVIRONMENTAL PROJECTS RELATED

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      TO THE GREAT LAKES AND AREAS CONTIGUOUS TO THE GREAT LAKES.

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           Enacting section 1.  This amendatory act does not take

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      effect unless Senate Bill No. _____ or House Bill No. 5691

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      (request no. 04148'99 **) of the 90th Legislature is enacted into

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      law.





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