Bill Text: MI SB0931 | 2017-2018 | 99th Legislature | Introduced
Bill Title: Natural resources; funding; Michigan natural resources trust fund and Michigan state parks endowment fund; modify allowable expenditures. Amends sec. 74119 of 1994 PA 451 (MCL 324.74119).
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2018-12-28 - Assigned Pa 598'18 12/28/18 Addenda [SB0931 Detail]
Download: Michigan-2017-SB0931-Introduced.html
SENATE BILL No. 931
April 11, 2018, Introduced by Senators HANSEN, CASPERSON and BOOHER and referred to the Committee on Natural Resources.
A bill to amend 1994 PA 451, entitled
"Natural resources and environmental protection act,"
by amending section 74119 (MCL 324.74119), as amended by 2002 PA
54.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 74119. (1) In accordance with section 35a of article IX
of the state constitution of 1963, the Michigan state parks
endowment fund is created within the state treasury. The Michigan
state parks endowment fund may be referred to as the Genevieve
Gillette state parks endowment fund.
(2) The state treasurer may receive money or other assets from
any source for deposit into the endowment fund. The state treasurer
shall direct the investment of the endowment fund. The state
treasurer shall have the same authority to invest the assets of the
endowment fund as is granted to an investment fiduciary under the
public employee retirement system investment act, 1965 PA 314, MCL
38.1132
to 38.1140l. 38.1141. The
state treasurer shall credit to
the endowment fund interest and earnings from endowment fund
investments.
(3) Money in the endowment fund at the close of the fiscal
year shall remain in the endowment fund and shall not lapse to the
general fund.
(4) The accumulated principal of the endowment fund shall not
exceed $800,000,000.00, which amount shall be annually adjusted
pursuant
to the Detroit consumer price index—all Consumer
Price
Index—all items beginning when the endowment fund reaches
$800,000,000.00. This annually adjusted figure is the accumulated
principal limit of the endowment fund.
(5)
Money Subject to
subsection (6), money in the endowment
fund
shall be expended for operations, the following:
(a) Operations, maintenance, and capital improvements at
Michigan state parks and for the acquisition of land or rights in
land for Michigan state parks.
(b) Local public recreation projects conducted by local units
of government and public authorities that provide for 1 or more of
the following:
(i) The development, renovation, and redevelopment of
motorized and nonmotorized trails and related infrastructure.
(ii) The prevention and management of aquatic invasive species
that adversely affect recreational activities.
(iii) The development, renovation, and redevelopment of local
public recreation facilities.
(c) The administration of the endowment fund.
(6) Not more than 25% of the expenditures from the endowment
fund for local public recreation projects shall be for the
prevention and management of aquatic invasive species that
adversely affect recreational opportunities.
(7) (6)
Money in the endowment fund shall be expended as
follows:
(a)
Until the endowment fund reaches an
accumulated principal
of
$800,000,000.00, each state fiscal year the legislature may
appropriate
not more than 50% of shall
allocate the money received
under section 35 of article IX of the state constitution of 1963
plus
interest and earnings and any private contributions or other
revenue
to the endowment fund.as
follows:
(a) Twenty-five percent shall be retained by the endowment
fund and credited to the accumulated principal of the endowment
fund.
(b) Not less than 50% shall be made available for expenditure
for operations, maintenance, and capital improvements at Michigan
state parks and the acquisition of land and rights in land for
Michigan state parks.
(c) Not less than 20% shall be made available for expenditure
for local public recreation projects authorized by this section.
(8) Until the endowment fund reaches an accumulated principal
of $800,000,000.00, the legislature may appropriate the money made
available for expenditure under subsection (7) plus interest and
earnings and any private contributions or other revenue received by
the endowment fund.
(9) (b)
Once the accumulated principal in
the endowment fund
reaches $800,000,000.00, only the interest and earnings of the
endowment fund and any private contributions or other revenue
received by the endowment fund in excess of the amount necessary to
maintain the endowment fund's accumulated principal limit shall be
expended .for the following:
(a) Operations, maintenance, and capital improvements at
Michigan state parks and for the acquisition of land or rights in
land for Michigan state parks.
(b) The administration of the endowment fund.
(10) (7)
Unexpended appropriations of the endowment
fund from
any state fiscal year as authorized by this section may be carried
forward or may be appropriated as determined by the legislature for
purposes of this section.
(11) An expenditure from the endowment fund may be made in the
form of a grant to a local unit of government or public authority,
subject to all of the following conditions:
(a) The grant is used for a local public recreation project
described in subsection (5)(b).
(b) The grant is matched by the local unit of government or
public authority with at least 25% of the total cost of the
project.
(12) (8)
The department shall annually
prepare a report
containing an accounting of revenues and expenditures from the
endowment fund. This report shall identify the interest and
earnings of the endowment fund from the previous year, the
investment performance of the endowment fund during the previous
year, and the total amount of appropriations from the endowment
fund during the previous year. This report shall be provided to the
senate and house of representatives appropriations committees and
the standing committees of the senate and house of representatives
with jurisdiction over issues pertaining to natural resources and
the environment.
Enacting section 1. This amendatory act does not take effect
unless all of the following bills of the 99th Legislature are
enacted into law:
(a) Senate Bill No. 763.
(b) Senate Bill No. 932.
Enacting section 2. This amendatory act does not take effect
unless Senate Joint Resolution O of the 99th Legislature becomes a
part of the state constitution of 1963 as provided in section 1 of
article XII of the state constitution of 1963.
