Michigan Laws 18.1367 – Transmittal of executive budget bills to members of legislature and fiscal agencies; contents of executive budget bill and enacted budget bill
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 18.1367
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Legacy: A gift of property made by will.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(1) Concurrent with transmitting the state budget to the legislature, the governor shall submit to the legislature and the fiscal agencies for the upcoming fiscal year and the following fiscal year executive budget bills containing itemized statements of estimated state spending to be paid to local units of government; annual required employer contributions toward total unfunded retiree health care and pension legacy costs as determined by the state’s consulting actuary for each department and the legislative branch and the judicial branch; individual line item amounts, including the number of FTE positions to be funded by each individual line item amount, for the proposed expenditures; and any necessary bills for additional revenue to provide financing for the proposed expenditures.
(2) One executive budget bill and 1 enacted budget bill shall contain all of the following:
(a) The estimated revenue for each state operating fund in sufficient detail to provide for comparison with actual revenue.
(b) Summary totals for each state operating fund to reflect that recommended expenditures for each fund are within proposed and estimated resources.
(c) A statement of estimated state spending to be paid to units of local government, total state spending from state sources of financing, and the state-local proportion derived from that data.