Michigan Laws 206.1017 – Expenditures; availability of money received as gift or donation; distribution
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 206.1017
- 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
- Department: means the department of treasury. See Michigan Laws 206.1013
- Fund: means the Michigan junior achievement fund created in section 5. See Michigan Laws 206.1013
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- 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) The money, interest, and earnings of the fund shall be expended solely for the purposes described in this act.
(2) Money granted or received as a gift or donation to the fund is available for distribution upon appropriation.
(3) The department shall distribute the funds to the Junior Achievement of Michigan Great Lakes organization for distribution to other junior achievement organizations in this state.