SB-0959, As Passed House, March 1, 2006
January 18, 2006, Introduced by Senator SWITALSKI and referred to the Committee on Appropriations.
A bill to amend 1990 PA 345, entitled
"State survey and remonumentation act,"
by amending section 11 (MCL 54.271).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 11. (1) The state survey and remonumentation fund is
created in the state treasury as a separate fund. The fund shall be
administered by the commission.
(2) Money deposited in the fund, and all interest and earnings
generated by the fund, except as otherwise provided in this
section, shall not lapse at the end of a fiscal year, but shall
remain in the fund to be expended as provided in this act. For the
fiscal year ending September 30, 2006 only, $15,000,000.00 of the
unreserved balance in the fund shall be deposited in the state
general fund.
Senate Bill No. 959 as amended February 15, 2006
as amended March 1, 2006
(3) The fund may accept funds received as gifts or donations,
or funds received from individuals or corporations to be used for
purposes of this act.
(4) The commission may direct the department of treasury to
establish restricted subaccounts within the fund as necessary to
administer the fund.
<<[(5) In addition to any other appropriation, it is the intent of the legislature that this state appropriate an amount from the general fund to the fund equal to the difference between the amount deposited into the fund in the fiscal year and the following amounts for the following fiscal years:
(a) $10,134,000.00 in the 2005-2006 fiscal year.
(b) $11,134,000.00 in the 2006-2007 and the 2007-2008 fiscal years.
(6) Subsection (5) only applies if the amount deposited into the fund is less than $10,134,000.00 in the 2005-2006 fiscal year and $11,134,000.00 in the 2006-2007 and the 2007-2008 fiscal years.]>>