Bill Text: MI HB4093 | 2019-2020 | 100th Legislature | Introduced

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Bill Title: Economic development: Michigan strategic fund; certain amount to be appropriated to Michigan transportation fund; allow. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 15.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2019-01-24 - Bill Electronically Reproduced 01/24/2019 [HB4093 Detail]

Download: Michigan-2019-HB4093-Introduced.html

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HOUSE BILL No. 4093

 

 

January 24, 2019, Introduced by Reps. Yaroch, Chirkun, Steven Johnson and LaGrand and referred to the Committee on Transportation.

 

     A bill to amend 1984 PA 270, entitled

 

"Michigan strategic fund act,"

 

(MCL 125.2001 to 125.2094) by adding section 15.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 15. (1) Notwithstanding any other provision of this act,

 

all money and assets of the fund are declared public money and

 

assets and shall be disbursed only as provided by law in an

 

appropriation.

 

     (2) Beginning fiscal year 2019-2020 and each fiscal year

 

thereafter, each year $60,000,000.00 of fund revenue from Indian

 

gaming compact receipts and other sources shall be deposited into

 

the Michigan transportation fund established in section 10 of 1951

 

PA 51, MCL 247.660, and distributed as provided in section 10(1)(l)

 

of 1951 PA 51, MCL 247.660.