Bill Text: MI SB0871 | 2015-2016 | 98th Legislature | Introduced

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Bill Title: State financing and management; funds; infrastructure reinvestment fund; create. Amends sec. 2 of 2000 PA 489 (MCL 12.252) & adds sec. 11.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-04-12 - Referred To Committee On Government Operations [SB0871 Detail]

Download: Michigan-2015-SB0871-Introduced.html

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SENATE BILL No. 871

 

 

April 12, 2016, Introduced by Senator ANANICH and referred to the Committee on Government Operations.

 

 

 

     A bill to amend 2000 PA 489, entitled

 

"Michigan trust fund act,"

 

by amending section 2 (MCL 12.252), as amended by 2005 PA 232, and

 

by adding section 11.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 2. As used in this act:

 

     (a) "Medicaid benefits trust fund" means the Michigan medicaid

 

Medicaid benefits trust fund established in section 5.

 

     (b) "Medicaid program" means a program for medical assistance

 

established under title XIX of the social security act, chapter

 

531, 49 Stat. 620, 42 USC 1396 to 1396f, 1396g-1 to 1396r-6, and

 

1396r-8 to 1396v.1396w-5.

 

     (c) "Medicaid special financing payments" means the medicaid

 

Medicaid special adjustor payments each year authorized in the

 

department of community health appropriations act.

 

     (d) "Michigan infrastructure reinvestment fund" means the

 

Michigan infrastructure reinvestment fund created in section 11.

 

     (e) (d) "Michigan merit award trust fund" means the Michigan

 

merit award trust fund established in section 9.

 

     (f) (e) "Residual tobacco settlement revenue" means any

 

residual interests, as defined by the Michigan tobacco settlement

 

finance authority act, that are received by this state.

 

     (g) (f) "Tobacco settlement revenue" means money received by

 

this state that is attributable to the master settlement agreement

 

incorporated into a consent decree and final judgment entered into

 

on December 7, 1998 in Kelly Ex Rel. Michigan v Philip Morris

 

Incorporated, et al., Ingham county County circuit court, docket

 

no. 96-84281CZ, including any rights to receive money attributable

 

to the master settlement agreement that has been sold by this

 

state.

 

     (h) (g) "21st century jobs trust fund" means the 21st century

 

jobs trust fund established in section 7.

 

     Sec. 11. (1) The Michigan infrastructure reinvestment fund is

 

created within the state treasury.

 

     (2) The state treasurer may receive money or other assets from

 

any source for deposit into the Michigan infrastructure

 

reinvestment fund. The state treasurer shall direct the investment

 

of the Michigan infrastructure reinvestment fund. The state

 

treasurer shall credit to the Michigan infrastructure reinvestment

 

fund interest and earnings from Michigan infrastructure

 

reinvestment fund investments.

     (3) Money in the Michigan infrastructure reinvestment fund at

 

the close of the fiscal year shall remain in the Michigan

 

infrastructure reinvestment fund and shall not lapse to the general

 

fund.

 

     (4) The department of treasury shall be the administrator of

 

the Michigan infrastructure reinvestment fund for auditing

 

purposes.

 

     (5) The department of treasury shall expend money from the

 

Michigan infrastructure reinvestment fund, upon appropriation, only

 

to finance public infrastructure improvements in this state that

 

include, but are not limited to, the following:

 

     (a) Drinking water system improvements.

 

     (b) Sewage system improvements.