Bill Text: MI HB4101 | 2015-2016 | 98th Legislature | Engrossed
Bill Title: Appropriations; zero budget; supplemental appropriations; provide for fiscal year 2014-2015. Creates appropriation act.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2015-07-14 - Assigned Pa 86'15 With Immediate Effect [HB4101 Detail]
Download: Michigan-2015-HB4101-Engrossed.html
HB-4101, As Passed House, May 14, 2015
SUBSTITUTE FOR
HOUSE BILL NO. 4101
A bill to make, supplement, and adjust appropriations for
various state departments and agencies for the fiscal year ending
September 30, 2015; and to provide for the expenditure of the
appropriations.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
PART 1
LINE-ITEM APPROPRIATIONS
Sec. 101. There is appropriated for the various state
departments and agencies to supplement appropriations for the
fiscal year ending September 30, 2015, from the following funds:
APPROPRIATION SUMMARY
GROSS APPROPRIATION.................................... $ 45,000,000
Total interdepartmental grants and intradepartmental
transfers............................................ 0
ADJUSTED GROSS APPROPRIATION........................... $ 45,000,000
Total federal revenues................................. 0
Total local revenues................................... 0
Total private revenues................................. 0
Total other state restricted revenues.................. 0
State general fund/general purpose..................... $ 45,000,000
Sec. 102. DEPARTMENT OF TECHNOLOGY, MANAGEMENT, AND BUDGET
(1) APPROPRIATION SUMMARY
GROSS APPROPRIATION.................................... $ 45,000,000
Interdepartmental grant revenues:
Total interdepartmental grants and intradepartmental
transfers............................................ 0
ADJUSTED GROSS APPROPRIATION........................... $ 45,000,000
Federal revenues:
Total federal revenues................................. 0
Special revenue funds:
Total local revenues................................... 0
Total private revenues................................. 0
Total other state restricted revenues.................. 0
State general fund/general purpose..................... $ 45,000,000
(2) SPECIAL PROGRAMS
Tax voucher purchase program........................... $ 45,000,000
GROSS APPROPRIATION.................................... $ 45,000,000
Appropriated from:
State general fund/general purpose..................... $ 45,000,000
House Bill No. 4101 as amended May 12, 2015
PART 2
PROVISIONS CONCERNING APPROPRIATIONS
GENERAL SECTIONS
Sec. 201. In accordance with the provisions of section 30 of
article IX of the state constitution of 1963, total state spending
from state resources in this appropriation act for the fiscal year
ending September 30, 2015 is $45,000,000.00 and state
appropriations paid to local units of government are $0.
Sec. 202. The appropriations made and expenditures authorized
under this act and the departments, commissions, boards, offices,
and programs for which appropriations are made under this act are
subject to the management and budget act, 1984 PA 431, MCL 18.1101
to 18.1594.
DEPARTMENT OF TECHNOLOGY, MANAGEMENT, AND BUDGET
Sec. 301. (1) From the funds appropriated in part 1[
] the state budget director is authorized
to purchase tax vouchers described in this subsection. The state
budget director may purchase the tax vouchers described in this
subsection only if the purchase price of the tax voucher is not
more than 90% of the face value of the tax voucher. The state
budget director may purchase tax vouchers described in this
subsection only if the tax vouchers meet all of the following:
(a) The tax voucher was issued under section 23 of the
Michigan early stage venture investment act of 2003, 2003 PA 296,
MCL 125.2253, by the venture Michigan fund, a Michigan early stage
House Bill No. 4101 as amended May 12, 2015
venture investment corporation created under that act.
(b) The tax vouchers are held by DBAH Capital, LLC or Merchant
Holding, Inc., or their successors.
(c) The tax vouchers are scheduled for tender on June 1, 2015
or October 1, 2015.
[(2) The funds appropriated in part 1 for the tax voucher purchase
program are considered to be a work project appropriation, and any
unencumbered or unallotted funds are carried forward into the succeeding
fiscal year. The following is in compliance with section 451a(1) of the
management and budget act, 1984 PA 431, MCL 18.1451a:
(a) The purpose of the project is to purchase tax vouchers as
described in subsection (1).
(b) These projects will be accomplished by contract.
(c) The total estimated completion cost of the work project is
$45,000,000.00.
(d) The tentative completion date is June 1, 2016.]
