Michigan Laws 257.811s – Thomas Daley gift of life fund; creation; deposit of money or other assets; money remaining at close of fiscal year; transfer; administration for auditing purposes; expenditures; “fund” defined
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Terms Used In Michigan Laws 257.811s
- 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
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Donor: The person who makes a gift.
- 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.
- 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 Thomas Daley gift of life fund is created within the state treasury.
(2) The state treasurer may receive money or other assets from any source for deposit into the fund. The state treasurer shall direct the investment of the fund. The state treasurer shall credit to the fund interest and earnings from fund investments.
(3) Money in the fund at the close of the fiscal year shall remain in the fund and shall not lapse to the general fund.
(4) Money in the organ and tissue donation education fund created in former section 217o shall be transferred to the fund.
(5) The department of state shall be the administrator of the fund for auditing purposes.
(6) The department of state shall expend money from the fund, upon appropriation, for the administration and maintenance of the state anatomical gift donor registry program under part 101 of the public health code, 1978 PA 368, MCL 333.10101 to 333.10123. Any money remaining in the fund may be expended for the ongoing development and administration of the department of state’s public information campaign concerning the Michigan organ donation program.
(7) As used in this section, “fund” means the Thomas Daley gift of life fund created in subsection (1).