Bill Text: MI SJRO | 2017-2018 | 99th Legislature | Enrolled
Bill Title: Constitutional amendments; state; Michigan natural resources trust fund and Michigan state parks endowment fund; modify allowable expenditures. Amends secs. 35 & 35a, art. IX of the state constitution.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2018-12-28 - Filed With Secretary Of State 12/27/2018 @ 1:20 Pm [SJRO Detail]
Download: Michigan-2017-SJRO-Enrolled.html
SJR-O, As Passed Senate, December 20, 2018
HOUSE SUBSTITUTE FOR
SENATE JOINT RESOLUTION O
A joint resolution proposing an amendment to the state
constitution of 1963, by amending sections 35 and 35a of article
IX, to provide for the use of certain revenues generated from
leases for the extraction of nonrenewable resources from state
owned lands and to modify the allowable expenditures from the
Michigan natural resources trust fund and the Michigan state parks
endowment 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 provide for the use of certain revenues
generated from leases for the extraction of nonrenewable resources
from state owned lands and to modify the allowable expenditures
from the Michigan natural resources trust fund and the Michigan
state parks endowment fund, is proposed, agreed to, and submitted
to the people of the state:
ARTICLE IX
Sec. 35. (1) There is hereby established the Michigan natural
resources trust fund. The trust fund shall consist 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, 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 However,
until the Michigan state parks endowment fund reaches an
accumulated principal of $800,000,000.00, the revenues from
bonuses, rentals, delayed rentals, and royalties described in this
section that would otherwise be deposited into the trust fund shall
be deposited into the Michigan state parks endowment fund. In
addition to the revenues described in this subsection, 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.
(2) The
Until the Michigan state
parks endowment fund reaches
an accumulated principal of $800,000,000.00, 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
money
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 This amount
is the accumulated principal limit.
The accumulated principal of the trust fund shall not be expended.
However, the interest and earnings of the trust fund shall be
expended for the following:
(a) 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
(b) Development, renovation, and redevelopment of public
recreation
facilities. , and for the administration
(c) Administration of the trust fund, which may include
payments in lieu of taxes on state owned land purchased through the
trust fund.
(3)
The trust fund may provide grants to local 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 these grants be
provided by the local unit of government or public authority.
(4) Until
the trust fund reaches an accumulated principal of
$500,000,000.00,
the After the Michigan state parks
endowment fund
reaches an accumulated principal of $800,000,000.00, the
accumulated principal limit for the trust fund as provided for in
subsection (2) no longer applies and the revenues from bonuses,
rentals, delayed rentals, and royalties described in subsection (1)
shall be deposited into the trust fund. From these revenues each
year 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 50 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.
(5) Not
less than 25 percent of the total amounts money made
available for expenditure from the trust fund from any state fiscal
year shall be expended for acquisition of land and rights in land
for recreational uses or protection of the land because of its
environmental
importance or its scenic beauty, and not
more less
than
25 percent of the total amounts money
made available for
expenditure from the trust fund from any state fiscal year shall be
expended for development, renovation, and redevelopment of public
recreation facilities.
(6) The legislature shall provide by law for the establishment
of a trust fund board within the department of natural resources.
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.
(7) The legislature shall provide by law for the
implementation of this section.
Sec. 35a. (1) There is hereby established the Michigan state
parks endowment fund. The endowment fund shall consist of revenues
as provided in section 35 of this article, and as provided by law.
The endowment fund may also receive private contributions of money
or
other things of value. All money in the Genevieve Gillette state
parks
endowment fund shall be transferred to the endowment fund.
The assets of the endowment fund shall be invested as provided by
law.
(2) The accumulated principal of the endowment fund shall not
exceed $800,000,000.00, which amount shall be annually adjusted
pursuant to the rate of inflation beginning when the endowment fund
reaches $800,000,000.00. This annually adjusted figure is the
accumulated principal limit of the endowment fund.
(3) Money available for expenditure from the endowment fund as
provided
in this section shall be expended for operations,
maintenance,
and capital all of the
following:
(a)
Capital improvements at Michigan state
parks State Parks.
and
for the acquisition
(b) Operations and maintenance at Michigan State Parks.
(c)
Acquisition of land or rights in land
for Michigan state
parks.State Parks.
(d) Administration of the endowment fund.
(4) Not less than 20 percent of the money made available for
expenditure from the endowment fund from any state fiscal year
shall be expended under subsection (3)(a) for capital improvements
at Michigan State Parks.
(5) Money in the endowment fund shall be expended as follows:
(a) (1)
Until the endowment fund reaches an
accumulated
principal of $800,000,000.00, each state fiscal year the
legislature may appropriate not more than 50 percent of the money
received under section 35 of this article plus interest and
earnings and any private contributions or other revenue to the
endowment fund.
(b) (2)
Once the accumulated principal in
the endowment fund
reaches $800,000,000.00, only the interest and earnings of the
endowment fund in excess of the amount necessary to maintain the
endowment fund's accumulated principal limit may be made available
for expenditure.
(6) Unexpended appropriations of the endowment fund from any
state fiscal year as authorized by this section may be carried
forward or may be appropriated as determined by the legislature for
purposes of this section.
(7) The legislature shall provide by law for 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.
