Bill Text: MI SB1158 | 2011-2012 | 96th Legislature | Chaptered
Bill Title: Water; quality; transfer of money from the Great Lakes water quality bond fund; modify distributions. Amends sec. 19708 of 1994 PA 451 (MCL 324.19708). TIE BAR WITH: HB 5673'12, SB 1155'12, SB 1156'12, SB 1157'12
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2012-12-31 - Assigned Pa 0562'12 With Immediate Effect 2012 Addenda [SB1158 Detail]
Download: Michigan-2011-SB1158-Chaptered.html
Act No. 562
Public Acts of 2012
Approved by the Governor
January 2, 2013
Filed with the Secretary of State
January 2, 2013
EFFECTIVE DATE: January 2, 2013
STATE OF MICHIGAN
96TH LEGISLATURE
REGULAR SESSION OF 2012
Introduced by Senators Hildenbrand and Kowall
ENROLLED SENATE BILL No. 1158
AN ACT to amend 1994 PA 451, entitled “An act to protect the environment and natural resources of the state; to codify, revise, consolidate, and classify laws relating to the environment and natural resources of the state; to regulate the discharge of certain substances into the environment; to regulate the use of certain lands, waters, and other natural resources of the state; to prescribe the powers and duties of certain state and local agencies and officials; to provide for certain charges, fees, assessments, and donations; to provide certain appropriations; to prescribe penalties and provide remedies; and to repeal acts and parts of acts,” by amending section 19708 (MCL 324.19708), as amended by 2010 PA 232.
The People of the State of Michigan enact:
Sec. 19708. (1) Subject to subsections (2), (3), and (4), the state treasurer shall transfer money in the fund as follows:
(a) In aggregate, not more than $290,000,000.00 of the money in the fund shall be deposited into the state water pollution control revolving fund created in section 16a of the shared credit rating act, 1985 PA 227, MCL 141.1066a.
(b) In aggregate, not more than $710,000,000.00 of the money in the fund shall be deposited into the strategic water quality initiatives fund created in section 5204.
(2) Money in the fund may be used by the department of treasury to pay for the cost of issuing bonds and the costs incurred under section 19703(3).
(3) Bonds that are directly deposited into the state water pollution control revolving fund or strategic water quality initiatives fund as authorized by section 19703 shall be taken into account for the purpose of determining the allocation and transfer of money set forth in subsection (1).
(4) Not later than December 14, 2012, the auditor general shall conduct an audit of the fund to assure that the money in the fund has been expended in compliance with law. Not later than December 14, 2014, the auditor general shall update its initial audit to assure that money in the fund has been expended in compliance with law.
Enacting section 1. This amendatory act does not take effect unless all of the following bills of the 96th Legislature are enacted into law:
(a) Senate Bill No. 1155.
(b) Senate Bill No. 1156.
(c) Senate Bill No. 1157.
(d) House Bill No. 5673.
This act is ordered to take immediate effect.
Secretary of the Senate
Clerk of the House of Representatives
Approved
Governor
