Michigan Laws 18.73 – State art in public places fund; income
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The fund may derive income from:
(a) Gifts, if the terms of the gift are consistent with the purposes of this act and other lawful requirements.
Terms Used In Michigan Laws 18.73
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Art: means an original, visual creation of quality executed in any size or shape, in any media, using any kind or combination of materials. See Michigan Laws 18.71
- Fund: means the state art in public places fund. See Michigan Laws 18.71
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
(b) Transfers from appropriations for specific capital outlay projects, if the projects are estimated to cost at least $250,000.00 and are identified by the legislature to include art. Each transfer to the fund shall be specifically designated by the legislature, be made only at the time when project money is appropriated, and not exceed 1% of the total appropriation for a specific project.
(c) Other appropriations made by the legislature.