Bill Text: MI HB4608 | 2015-2016 | 98th Legislature | Introduced
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-Introduced.html
HOUSE BILL No. 4608
May 14, 2015, Introduced by Reps. Chatfield, Runestad, Cole, Theis, Inman and Potvin and referred to the Committee on Roads and Economic Development.
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 only as provided by law in an
appropriation.
(2) Beginning fiscal year 2015-2016 and each fiscal year
thereafter, each year $60,000,000.00 of fund revenue from Indian
gaming compact receipts and other sources 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 247.660.