HB-5572, As Passed House, May 22, 2014

HOUSE BILL No. 5572

May 8, 2014, Introduced by Reps. Olumba and Walsh and referred to the Committee on Detroit's Recovery and Michigan's Future.

      A bill to amend 1984 PA 431, entitled

"The management and budget act,"

by amending section 353 (MCL 18.1353), as amended by 1999 PA 8.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 1        Sec. 353. (1) In a calendar quarter following a calendar

 2  quarter in which the seasonally adjusted state unemployment rate

 3  as certified by the director of the department of career

 4  development licensing and regulatory affairs or its successor is

 5  8% or more, an amount may be appropriated from the fund by the

 6  legislature for the purposes listed in this section in accordance

 7  with the following table:

8     Percent of seasonally                Percent of fund available

9     adjusted unemployment                for economic stabilization

10    in the calendar quarter              during the calendar quarter

1     preceding the calendar               following a calendar quarter

2     quarter in which an                  of high unemployment

3     amount may be appropriated        

4  _______________________________       _______________________________

5           8.0-11.9%                      2.5% of fund balance

6    as of first day of

7    calendar quarter

8         12.0% and over                   5.0% of fund balance

9    as of first day of

10   calendar quarter

11        (2) The legislature may appropriate by law money from the

12  fund in the amounts as provided in this section to assist in the

13  following countercyclical economic stabilization purposes:

14        (a) Capital outlay.

15        (b) Public works and public service jobs.

16        (c) Refundable investment or employment tax credits against

17  state business taxes for new outlays and hiring in this state.

18        (d) Any other purpose the legislature may provide by law

19  which provides employment opportunities counter to the state's

20  economic cycle.

21        (e) Any other purpose the legislature may provide by law.

22        (3) Notwithstanding subsections (1) and (2), there is hereby

23  appropriated $40,000,000.00 from the fund for the Michigan state

24  parks endowment fund. The appropriation provided for in this

25  subsection shall only be effective after the proceeds from the

26  sale of the accident fund have been transferred to the fund as

27  provided for in former section 701a of the worker's disability

 1  compensation act of 1969, 1969 PA 317. , MCL 418.701a.