Bill Text: MI SB0428 | 2015-2016 | 98th Legislature | Engrossed
Bill Title: Individual income tax; other; American Red Cross Michigan fund act; create. Creates new act. TIE BAR WITH: SB 0429'15
Spectrum: Partisan Bill (Republican 5-0)
Status: (Passed) 2016-09-06 - Presented To Governor 6/14/2016 @ 11:38 Am [SB0428 Detail]
Download: Michigan-2015-SB0428-Engrossed.html
SB-0428, As Passed House, June 1, 2016
SENATE BILL No. 428
July 1, 2015, Introduced by Senators JONES, HANSEN, MARLEAU, BRANDENBURG and BOOHER and referred to the Committee on Finance.
A bill to establish the American Red Cross Michigan fund in
the department of treasury; to provide for the distribution of the
money from the fund; to prescribe the powers and duties of certain
agencies and officials; and to provide for appropriations.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 1. This act shall be known and may be cited as the
"American Red Cross Michigan fund act".
Sec. 3. As used in this act:
(a) "Department" means the department of treasury.
(b) "Fund" means the American Red Cross Michigan fund created
in section 5.
Sec. 5. (1) The American Red Cross Michigan fund is created in
the department to provide funds for donation to the Michigan
chapters of the American Red Cross. The department shall be the
administrator of the fund for auditing purposes.
(2) The state treasurer shall credit to the fund all amounts
appropriated for this purpose under section 435 of the income tax
act of 1967, 1967 PA 281, MCL 206.435, and money from any other
source for deposit into the fund.
(3) The state treasurer shall direct the investment of the
fund. The fund shall consist of the money credited to the fund
pursuant to section 435 of the income tax act of 1967, 1967 PA 281,
MCL 206.435, any interest and earnings accruing from the saving and
investment of that money, and money from any other source.
(4) Money in the fund at the close of the year shall remain in
the fund and shall not lapse to the general fund.
Sec. 7. The money, interest, and earnings of the fund shall be
expended solely for donation to the mid-Michigan chapter of the
American Red Cross for distribution to the Michigan chapters of the
American Red Cross.
Sec. 9. The money in the fund that is available for
distribution shall be appropriated each year. Money granted or
received as a gift or donation to the fund is available for
distribution upon appropriation.
Enacting section 1. This act does not take effect unless
Senate Bill No. 429
of the 98th Legislature is enacted into law.
