SENATE BILL No. 1275

May 16, 2000, Introduced by Senators YOUNG, HOFFMAN and STILLE and referred to the Committee on Appropriations.

A bill to amend 1984 PA 431, entitled

"The management and budget act,"

by amending section 358 (MCL 18.1358).

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

1 Sec. 358. (1) The EXCEPT AS OTHERWISE PROVIDED IN SUBSEC-

2 TION (3), THE legislature may make an emergency appropriation

3 from the fund subject to all of the following conditions:

4 (a) The maximum appropriation from the fund for budget sta-

5 bilization as provided in section 352(2) has already been made

6 for the current fiscal year.

7 (b) The legislature has approved the emergency appropria-

8 tions bill by a 2/3 majority vote of the members elected to and

9 serving in each house.

10 (c) The emergency appropriations bill becomes law.

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1 (2) The additional transfer from the fund may be made only

2 for the current fiscal year.

3 (3) NOT TO EXCEED $35,000,000.00 OF THE ACCRUED INTEREST IN

4 THE FUND AS DETERMINED BY THE LEGISLATURE SHALL BE APPROPRIATED

5 EACH YEAR TO THE MICHIGAN TRANSPORTATION FUND DESCRIBED IN SEC-

6 TION 10 OF 1951 PA 51, MCL 247.660, FOR SUBSEQUENT DEPOSIT IN THE

7 STATE TRUNK LINE FUND ESTABLISHED UNDER SECTION 11 OF 1951 PA 51,

8 MCL 247.661.

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