Bill Text: MI HB4608 | 2015-2016 | 98th Legislature | Engrossed

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Bill Title: Economic development; Michigan strategic fund; certain amount to be appropriated to Michigan transportation fund; allow. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 15.

Spectrum: Partisan Bill (Republican 6-0)

Status: (Introduced - Dead) 2015-06-11 - Referred To Committee On Government Operations [HB4608 Detail]

Download: Michigan-2015-HB4608-Engrossed.html

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HB-4608, As Passed House, June 10, 2015

 

 

 

 

 

 

 

 

 

 

 

SUBSTITUTE FOR

 

HOUSE BILL NO. 4608

 

 

 

 

 

 

 

 

 

 

 

 

     A bill to amend 1984 PA 270, entitled

 

"Michigan strategic fund act,"

 

(MCL 125.2001 to 125.2094) by adding section 15.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 15. (1) Notwithstanding any other provision of this act,

 

all money and assets of the fund are declared public money and

 

assets and shall be disbursed, subject to subsection (3), only as

 

provided by law in an appropriation.

 

     (2) Beginning fiscal year 2016-2017 and each fiscal year

 

thereafter, each year an amount of revenue equal to the amount the

 

fund receives each year from the Indian gaming compact receipts

 

shall be deposited into the Michigan transportation fund

 

established in section 10 of 1951 PA 51, MCL 247.660, and

 

distributed as provided in section 10(1)(k) of 1951 PA 51, MCL

 

House Bill No. 4608 as amended June 9, 2015

                    as amended June 10, 2015

247.660.

 

     (3) The revenue described in subsection (2) to be deposited

 

into the Michigan transportation fund established in section 10 of

 

1951 PA 51, MCL 247.660, shall not include any revenue the fund

 

receives from Indian gaming compact receipts.

 

     [(4) It is the intent of the legislature that beginning fiscal year

 

2016-2017 and each fiscal year thereafter, the Pure Michigan

 

appropriation line item and the business attraction and community

 

revitalization appropriation line item shall be funded from general

 

fund/general purpose revenue appropriated to the fund at an amount not

less than what was appropriated to the Pure Michigan appropriation line item and the business attraction and community revitalization appropriation line item in fiscal year 2015-2016.]