Bill Text: MI HJRB | 2011-2012 | 96th Legislature | Introduced
Bill Title: Natural resources; gas and oil; distribution from sale of oil and gas leases on state property; modify. Amends sec. 35, art. IX of the state constitution.
Spectrum: Partisan Bill (Republican 5-0)
Status: (Introduced - Dead) 2011-01-18 - Printed Joint Resolution Filed 01/14/2011 [HJRB Detail]
Download: Michigan-2011-HJRB-Introduced.html
HOUSE JOINT RESOLUTION B
January 13, 2011, Introduced by Reps. Agema, Yonker, Hooker, Pscholka and Damrow and referred to the Committee on Natural Resources, Tourism, and Outdoor Recreation.
A joint resolution proposing an amendment to the state
constitution of 1963, by amending section 35 of article IX, to
reduce the proportion of certain lease revenue required to be
deposited in the Michigan natural resources trust fund.
Resolved by the Senate and House of Representatives of the
state of Michigan, That the following amendment to the state
constitution of 1963, to reduce the proportion of certain lease
revenue required to be deposited in the Michigan natural resources
trust fund, is proposed, agreed to, and submitted to the people of
the state:
ARTICLE IX
Sec. 35. There is hereby established the Michigan natural
resources trust fund. The trust fund shall consist of all revenue
in the trust fund immediately prior to the effective date of the
2012 amendment to this section and 20 percent of all bonuses,
rentals, delayed rentals, and royalties collected or reserved by
the state under provisions of leases for the extraction of
nonrenewable resources from state owned lands on or after the
effective date of that amendment, except such revenues accruing
under leases of state owned lands acquired with money from state or
federal game and fish protection funds or revenues accruing from
lands purchased with such revenues. The trust fund may receive
appropriations, money, or other things of value. The assets of the
trust fund shall be invested as provided by law.
Until the trust fund reaches an accumulated principal of
$500,000,000.00, $10,000,000.00 of the revenues from bonuses,
rentals, delayed rentals, and royalties described in this section
otherwise dedicated to the trust fund that are received by the
state each state fiscal year shall be deposited into the Michigan
state parks endowment fund. However, until the trust fund reaches
an accumulated principal of $500,000,000.00, in any state fiscal
year, not more than 50 percent of the total revenues from bonuses,
rentals, delayed rentals, and royalties described in this section
otherwise dedicated to the trust fund that are received by the
state each state fiscal year shall be deposited into the Michigan
state parks endowment fund.
The amount accumulated in the trust fund in any state fiscal
year shall not exceed $500,000,000.00, exclusive of interest and
earnings and amounts authorized for expenditure pursuant to this
section. When the accumulated principal of the trust fund reaches
$500,000,000.00, all revenue from bonuses, rentals, delayed
rentals, and royalties described in this section that would be
received by the trust fund but for this limitation shall be
deposited into the Michigan state parks endowment fund until the
Michigan state parks endowment fund reaches an accumulated
principal of $800,000,000.00. When the Michigan state parks
endowment fund reaches an accumulated principal of $800,000,000.00,
all revenues from bonuses, rentals, delayed rentals, and royalties
described in this section shall be distributed as provided by law.
The interest and earnings of the trust fund shall be expended
for the acquisition of land or rights in land for recreational uses
or protection of the land because of its environmental importance
or its scenic beauty, for the development of public recreation
facilities, and for the administration of the trust fund, which may
include payments in lieu of taxes on state owned land purchased
through the trust fund. The trust fund may provide grants to units
of local government or public authorities which shall be used for
the purposes of this section. The legislature shall provide that a
portion of the cost of a project funded by such grants be provided
by the local unit of government or public authority.
Until the trust fund reaches an accumulated principal of
$500,000,000.00, the legislature may provide, in addition to the
expenditure of interest and earnings authorized by this section,
that a portion, not to exceed 33-1/3 percent, of the revenues from
bonuses, rentals, delayed rentals, and royalties described in this
section received by the trust fund during each state fiscal year
may be expended during subsequent state fiscal years for the
purposes of this section.
Not less than 25 percent of the total amounts made available
for expenditure from the trust fund from any state fiscal year
shall be expended for acquisition of land and rights in land and
not more than 25 percent of the total amounts made available for
expenditure from the trust fund from any state fiscal year shall be
expended for development of public recreation facilities.
The legislature shall provide by law for the establishment of
a trust fund board. The trust fund board shall exist within the
department of natural resources and environment or a successor
department. The trust fund board shall recommend the projects to be
funded. The board shall submit its recommendations to the governor
who shall submit the board's recommendations to the legislature in
an appropriations bill.
The legislature shall provide by law for the implementation of
this section.
Resolved further, That the foregoing amendment shall be
submitted to the people of the state at the next general election
in the manner provided by law.
