21ST CENTURY JOBS TRUST FUND; TRANSFER                                               H.B. 6121:

                                                                              SUMMARY OF HOUSE-PASSED BILL

                                                                                                         IN COMMITTEE

 

 

 

 

 

 

 

 

 

House Bill 6121 (as passed by the House)

Sponsor:  Representative Abdullah Hammoud

House Committee:  Appropriations

Senate Committee:  Committee of the Whole

 

Date Completed:  9-14-20

 

CONTENT

 

The bill would amend the Michigan Trust Fund Act to require, for fiscal year (FY) 2019-20, the distribution of $54.0 million from the 21st Century Jobs Trust Fund to the State's General Fund. The bill would have no impact on other current funding from the 21st Century Jobs Trust Fund.

 

MCL 12.257                                                                                                            

 

FISCAL IMPACT

 

The bill would provide for a $54.0 million increase in FY 2019-20 General Fund/General Purpose (GF/GP) revenue. This transfer of funds from the 21st Century Jobs Trust Fund to the State GF/GP budget would apply only during FY 2019-20. The bill would have no impact on other activities supported by 21st Century Jobs Trust Fund dollars. The $54.0 million is the result of the Governor's veto of Pure Michigan appropriations in the FY 2019-20 budget ($31.0 million), the lapse of work projects in Business Attraction and Community Revitalization ($20.0 million), and the lapse of work projects in Entrepreneurship Eco-System ($3.0 million).

 

                                                                                        Fiscal Analyst:  Cory Savino

 

 

This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.