Bill Text: MI SB0619 | 2009-2010 | 95th Legislature | Engrossed
Bill Title: Use tax; collections; deposit of certain amount from general fund to Michigan promotion fund; provide for. Amends sec. 21 of 1937 PA 94 (MCL 205.111).
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2010-04-13 - Assigned Pa 0037'10 With Immediate Effect [SB0619 Detail]
Download: Michigan-2009-SB0619-Engrossed.html
SB-0619, As Passed House, March 25, 2010
SUBSTITUTE FOR
SENATE BILL NO. 619
A bill to amend 1937 PA 94, entitled
"Use tax act,"
by amending section 21 (MCL 205.111), as amended by 1994 PA 34.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec.
21. (1) Except as provided in subsection (2) subsections
(2)
and (3), all money received and
collected under the provisions
of
this act shall be deposited by the
department of treasury , in
the state treasury to the credit of the general fund, to be
disbursed only by appropriations by the legislature.
(2) The collections from the use tax imposed at the additional
rate of 2% approved by the electors March 15, 1994 shall be
deposited in the state school aid fund established in section 11 of
article IX of the state constitution of 1963.
(3) For the fiscal year ending September 30, 2010 only,
$9,500,000.00 shall be deposited by the department of treasury into
the Michigan promotion fund. As used in this subsection,
"Michigan promotion fund" means the fund created in section 39 of
the Michigan strategic fund act, 1984 PA 270, MCL 125.2039.
