Bill Text: MI HB4608 | 2015-2016 | 98th Legislature | Engrossed
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: Partisan Bill (Republican 6-0)
Status: (Introduced - Dead) 2015-06-11 - Referred To Committee On Government Operations [HB4608 Detail]
Download: Michigan-2015-HB4608-Engrossed.html
HB-4608, As Passed House, June 10, 2015
SUBSTITUTE FOR
HOUSE BILL NO. 4608
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, subject to subsection (3), only as
provided by law in an appropriation.
(2) Beginning fiscal year 2016-2017 and each fiscal year
thereafter, each year an amount of revenue equal to the amount the
fund receives each year from the Indian gaming compact receipts
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)(k) of 1951 PA 51, MCL
House Bill No. 4608 as amended June 9, 2015
as amended June 10, 2015
247.660.
(3) The revenue described in subsection (2) to be deposited
into the Michigan transportation fund established in section 10 of
1951 PA 51, MCL 247.660, shall not include any revenue the fund
receives from Indian gaming compact receipts.
[(4) It is the intent of the legislature that beginning fiscal year
2016-2017 and each fiscal year thereafter, the Pure Michigan
appropriation line item and the business attraction and community
revitalization appropriation line item shall be funded from general
fund/general purpose revenue appropriated to the fund at an amount not
less than what was appropriated to the Pure Michigan appropriation line item and the business attraction and community revitalization appropriation line item in fiscal year 2015-2016.]
