(1) The private forestland enhancement 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, including general fund/general purpose appropriations, gifts, grants, and bequests. The state treasurer shall direct the investment of the fund. The state treasurer shall credit to the fund interest and earnings from fund investments.
Terms Used In Michigan Laws 324.51305
- 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.
- Department: means the department of agriculture and rural development. See Michigan Laws 324.51301
- 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.
- Forestland: means a tract of land that may include nonproductive land that is intermixed with productive land that is an integral part of a managed forest and the owner of which agrees to develop, maintain, and actively manage the land as a private forest through planting, natural reproduction, or other silvicultural practices. See Michigan Laws 324.51301
- Fund: means the private forestland enhancement fund created in section 51305. See Michigan Laws 324.51301
- Nonindustrial private forestland: means a privately owned tract of land consisting of 20 or more acres, or the timber rights in the land if the timber rights have been severed, that has the productive capacity to grow on average not less than 20 cubic feet per acre per year and that meets either of the following conditions:
(i) For a tract of land that contains less than 40 acres, at least 80% of the land is occupied by forest tree species. See Michigan Laws 324.51301
- 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
- Technical assistance: means direct on-site assistance provided to individuals. See Michigan Laws 324.51301
- Timber: means wood growth, mature or immature, growing or dead, standing or down. See Michigan Laws 324.51301
(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) The department shall be the administrator of the fund for auditing purposes.
(5) The department shall expend money from the fund, upon appropriation, only for 1 or more of the following purposes:
(a) Direct assistance.
(b) Indirect assistance.
(c) Administrative costs.
(6) The department shall establish criteria and procedures for approving proposed expenditures from the fund.
(7) The department of treasury shall, before November 1 of each year, notify the department of the balance in the fund at the close of the preceding fiscal year.
(8) As used in this section:
(a) “Administrative costs” includes, but is not limited to, costs incurred in administering the qualified forest program developed in section 7jj of the general property tax act, 1893 PA 206, MCL 211.7jj.
(b) “Direct assistance” includes, but is not limited to, programs that will provide for any of the following:
(i) Programs devoted to nonindustrial private forestland to encourage the judicious management of forestlands to maximize economic and ecological value.
(ii) Incentive and cost-share programs to assist landowners.
(iii) Programs that enhance investment of private and federal funds in sustainable forest management.
(iv) Other programs established pursuant to this part.
(c) “Indirect assistance” includes, but is not limited to, programs that will provide for any of the following:
(i) Public education and demonstration programs on sustainable management of private forestland for increasing value for wildlife habitat or timber management, or both.
(ii) Educational programs.
(iii) Technical assistance programs.
(iv) The promotion of on-site evaluation systems and management practices.