Bill Text: MI SB0428 | 2015-2016 | 98th Legislature | Enrolled
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-Enrolled.html
STATE OF MICHIGAN
98TH LEGISLATURE
REGULAR SESSION OF 2016
Introduced by Senators Jones, Hansen, Marleau, Brandenburg and Booher
ENROLLED SENATE BILL No. 428
AN ACT 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.
This act is ordered to take immediate effect.
Secretary of the Senate
Clerk of the House of Representatives
Approved
Governor
