FY 2002-03 MICHIGAN STRATEGIC FUND BUDGET - H.B. 5643 (S-1): COMMITTEE SUMMARY
House Bill 5643 (S-1 as reported)
Committee: Appropriations
| FY 2001-02 Year-to-Date Gross Appropriation | $169,090,600 |
| Changes from FY 2001-02 Year-to-Date: | |
| 1. Economic Development Job Training Grants. The Governor, House, and Senate recommend a reduction in this program. | (13,000,000) |
| 2. Capital Access Program. The executive recommendation removes funding of ($1,000,000) for this program. The House and Senate retain the program. | 0 |
| 3. Program Reductions to Fund Economic Adjustments. The Governor, House, and Senate reduce staffing by 2.5 FTEs to fund the economic adjustments. | (234,500) |
| 4. Early Retirement. The revised Governor's recommendation and the Senate create a placeholder appropriation for early retirement savings. | (100) |
| 5. Economic Adjustments. | 222,800 |
| 6 Reduction of 1997 Early Retirement Sick Leave Payouts. The Governor, House, and Senate remove funding for these payments which have been completed. | (41,400) |
| Total Changes | ($13,053,200) |
| FY 2002-03 Senate Appropriations Subcommittee Gross Appropriation | $156,037,400 |
| FY 2002-03 MICHIGAN STRATEGIC FUND BUDGET - BOILERPLATE HIGHLIGHTS |
| Changes from FY 2001-02 Year to Date: |
| 1. General Sections. The Governor recommends deletion of the following sections: Privatization, Buy American, Deprived and Depressed, Notification of Grants, Affirmative Action, Retention of Reports. The House retains these sections. The Governor recommends eliminating the current requirement that each agency provide a list of the reports published on the Internet in the last three months and the Internet site of each. The House retains this requirement. |
| 2. Early Retirement Savings. The Governor's revised recommendation (submitted after House action) provides for the recognition of savings from the State's early retirement program. It requires the State Budget Director to request legislative transfers by November 15, 2002 to apply early retirement savings to affected line items. (Sec. 261) |
| 3. Economic Development Job Training Grants (EDJT). The Governor proposes expanding the purposes of the grants to allow allocation of $1,000,000 to provide matching funds for university Federal research grants. The Governor also recommends that EDJT grants be awarded in the first two quarters of the fiscal year, except that this would not apply to rapid response grants, the Michigan Growth Capital Fund and the proposed grants to universities for matching funds. The House and Senate concur. (Sec. 401) |
| 4. Report on Uses of Investment or Indian Gaming Revenue. The executive budget deleted the annual status report to the appropriations subcommittees on activities financed from the Strategic Fund/Renaissance Fund using investment or Indian gaming revenue. The House and Senate retain current law. (Sec. 403) |
| 5. Report on Grants. The Governor recommends deletion of the requirement for a semi-annual report listing all grants awarded by the Michigan Strategic Fund or the Michigan Economic Development Corporation from State appropriations. The House and Senate retain current law. (Sec. 406) |
| 6. Life Sciences Steering Committee. The House and Senate recommend that the Steering Committee have the authority to change the funding percentages for the Life Sciences Grant programs from basic research and collaborative research grants to the commercialization fund. Currently, 40% is allocated for basic research (including not less than $5.0 million for research on aging), 50% is for collaborative grants between universities and private research facilities and up to 10% is for funding to commercialize results of life science research in Michigan. (Sec. 410) |
| 7. Core Communities. The House permits up to $1,000,000 of available funds in the Michigan Core Communities Fund to be allocated to the Capital Access program. The Senate adopts this language and also recommends expanding the use of Core Communities funding to allow any costs related to the successful development and implementation of core community or certified technology park projects. (Sec. 418) |
Date Completed: 5-01-02 - Fiscal Analysts: Elizabeth Pratt
- Maria Tyszkiewicz