Michigan Laws 324.32714 – Water use protection fund; creation; disposition of assets; investments; money remaining in fund; expenditures
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Terms Used In Michigan Laws 324.32714
- 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.
- Council: means the Great Lakes-St. See Michigan Laws 324.32701
- Department: means the department of environmental quality. See Michigan Laws 324.32701
- 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.
- 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 water use protection 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, and 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 into the general fund.
(4) The department may expend money from the fund, upon appropriation, only for 1 or more of the following:
(a) The implementation and administration of this part.
(b) The preparation of the statewide groundwater inventory and map under section 32802.
(c) The expenses of the groundwater conservation advisory council under part 328.
(d) The implementation and administration of part 317.