Michigan Laws 324.32905 – Michigan Great Lakes protection fund; creation; sources of money; investment of fund; crediting interest and earnings to fund; money not to revert to general fund; annual report
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(1) The Michigan Great Lakes protection fund is created in the state treasury.
(2) The fund shall receive money from the following sources:
Terms Used In Michigan Laws 324.32905
- Board: means the Michigan Great Lakes protection fund technical advisory board created in section 32908. See Michigan Laws 324.32901
- Department: means the director of the department of natural resources or his or her designee to whom the director delegates a power or duty by written instrument. See Michigan Laws 324.301
- 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.
- Fund: means the Michigan Great Lakes protection fund created in section 32905. See Michigan Laws 324.32901
- 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
(a) Money received by the state from the Great Lakes protection fund authorized in part 331.
(b) Gifts and contributions to the fund.
(c) Other sources provided by law.
(3) The state treasurer shall direct the investment of the fund. Interest and earnings of the fund shall be credited to the fund. Money in the fund at the end of the fiscal year shall remain in the fund and shall not revert to the general fund.
(4) The state treasurer shall annually report to the board and the department on the amount of money in the fund.