September 13, 2012, Introduced by Senators CASWELL, PROOS, HILDENBRAND, MARLEAU, SCHUITMAKER, EMMONS, PAPPAGEORGE and COLBECK and referred to the Committee on Appropriations.
A bill to amend 1994 PA 451, entitled
"Natural resources and environmental protection act,"
by amending section 1904 (MCL 324.1904), as amended by 2002 PA 52.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 1904. The amount accumulated in the trust fund shall not
exceed $500,000,000.00, exclusive of interest and earnings and
amounts authorized for expenditure under this part. Any amount of
money that would be a part of the trust fund but for the limitation
stated in this section shall be deposited in the Michigan state
parks endowment fund created in section 74119, until the Michigan
state parks endowment fund reaches an accumulated principal of
$800,000,000.00. After the Michigan state parks endowment fund
reaches an accumulated principal of $800,000,000.00, any money that
would be part of the Michigan state parks endowment fund but for
this
limitation shall be distributed as provided by law.deposited
into the Michigan transportation fund created in section 10 of 1951
PA 51, MCL 247.660, to be used, upon appropriation, by counties,
cities, and villages for the construction, maintenance, and
improvement of roads, streets, and bridges.
Enacting section 1. This amendatory act does not take effect
unless Senate Bill No. 1274
of the 96th Legislature is enacted into law.