HOUSE BILL No. 5409


     November 1, 2001, Introduced by Rep. Koetje and referred to the Committee on Commerce.


        A bill to amend 1976 PA 451, entitled

   "The revised school code,"

   by amending section 1215 (MCL 380.1215).

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

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           Sec. 1215.  (1) Operating taxes shall be accounted for under

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      the title of "general fund".  The state board may establish other

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      fund designations to clarify further the expenditure classifica-

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      tions for which general fund moneys may be used.

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           (2) Library money shall be accounted for under the title of

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      "library fund".

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           (3) Building and site money shall be accounted for under the

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      title of "building and site fund".

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           (4) Taxes collected for retiring bonded indebtedness shall

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      be accounted for as required by  chapter 7 of Act No.  202 of the

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      Public Acts of 1943, as amended, being sections 137.1 to 137.3 of


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      the Michigan Compiled Laws  THE REVISED MUNICIPAL FINANCE ACT,

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      2001 PA 34, MCL 141.2101 TO 141.2821.




















































   05324'01          Final page.                            JLB