Bill Text: MI HB5572 | 2013-2014 | 97th Legislature | Engrossed
Bill Title: State financing and management; funds; budget stabilization fund distributions; modify. Amends sec. 353 of 1984 PA 431 (MCL 18.1353).
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2014-05-27 - Referred To Committee On Government Operations [HB5572 Detail]
Download: Michigan-2013-HB5572-Engrossed.html
HB-5572, As Passed House, May 22, 2014
HOUSE BILL No. 5572
May 8, 2014, Introduced by Reps. Olumba and Walsh and referred to the Committee on Detroit's Recovery and Michigan's Future.
A bill to amend 1984 PA 431, entitled
"The management and budget act,"
by amending section 353 (MCL 18.1353), as amended by 1999 PA 8.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
1 Sec. 353. (1) In a calendar quarter following a calendar
2 quarter in which the seasonally adjusted state unemployment rate
3 as certified by the director of the department of career
4 development licensing
and regulatory affairs or its successor
is
5 8% or more, an amount may be appropriated from the fund by the
6 legislature for the purposes listed in this section in accordance
7 with the following table:
8 Percent of seasonally Percent of fund available
9 adjusted unemployment for economic stabilization
10 in the calendar quarter during the calendar quarter
1 preceding the calendar following a calendar quarter
2 quarter in which an of high unemployment
3 amount may be appropriated
4 _______________________________ _______________________________
5 8.0-11.9% 2.5% of fund balance
6 as of first day of
7 calendar quarter
8 12.0% and over 5.0% of fund balance
9 as of first day of
10 calendar quarter
11 (2) The legislature may appropriate by law money from the
12 fund in the amounts as provided in this section to assist in the
13 following countercyclical economic stabilization purposes:
14 (a) Capital outlay.
15 (b) Public works and public service jobs.
16 (c) Refundable investment or employment tax credits against
17 state business taxes for new outlays and hiring in this state.
18 (d) Any other purpose the legislature may provide by law
19 which provides employment opportunities counter to the state's
20 economic cycle.
21 (e) Any other purpose the legislature may provide by law.
22 (3) Notwithstanding subsections (1) and (2), there is hereby
23 appropriated $40,000,000.00 from the fund for the Michigan state
24 parks endowment fund. The appropriation provided for in this
25 subsection shall only be effective after the proceeds from the
26 sale of the accident fund have been transferred to the fund as
27 provided for in former section 701a of the worker's disability
1 compensation act of 1969, 1969 PA 317. , MCL 418.701a.
