Bill Text: MI SB0817 | 2017-2018 | 99th Legislature | Engrossed
Bill Title: Individual income tax; other; Michigan World War II Legacy Memorial fund act; create. Creates new act. TIE BAR WITH: SB 0816'18
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2018-09-05 - Assigned Pa 0257'18 With Immediate Effect [SB0817 Detail]
Download: Michigan-2017-SB0817-Engrossed.html
SB-0817, As Passed House, June 7, 2018
SB-0817, As Passed Senate, March 15, 2018
SENATE BILL No. 817
February 13, 2018, Introduced by Senators BIEDA, KNOLLENBERG, SHIRKEY, GREGORY, KNEZEK, ANANICH, MARLEAU, HOPGOOD, COLBECK and ROBERTSON and referred to the Committee on Finance.
A bill to establish the Michigan World War II Legacy Memorial
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
"Michigan World War II Legacy Memorial fund act".
Sec. 3. As used in this act:
(a) "Department" means the department of treasury.
(b) "Fund" means the Michigan World War II Legacy Memorial
fund created in section 5.
Sec. 5. (1) The Michigan World War II Legacy Memorial fund is
created in the department to provide funds for donation to the
Michigan World War II Legacy Memorial organization to assist in
honoring Michigan residents who served in the armed forces and on
the home front during World War II and building Michigan's official
tribute to these heroes. 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 Michigan World War II Legacy
Memorial organization.
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._816 of
the 99th Legislature is enacted into law.
