SENATE BILL No. 1273

 

 

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.