Michigan Laws 333.5953 – Healthy Michigan fund; creation; expenditure; fund as additional appropriation; crediting amount and earnings; investment; grants or donations; availability of remaining funds; reversion
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(1) The healthy Michigan fund is created in the state treasury. The fund shall be expended only for the purposes described in section 36 of article IX of the state constitution of 1963 and as further provided in this part. The fund is in addition to, and is not intended as a replacement for, any other money appropriated to the department or other state agencies.
(2) The state treasurer shall credit to the fund all amounts dedicated for this purpose under section 36 of article IX of the state constitution of 1963 and any other amounts received by the state treasurer for the purpose of the fund.
Terms Used In Michigan Laws 333.5953
- 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
- 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 healthy Michigan fund created in section 5953. See Michigan Laws 333.5951
- 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
(3) The state treasurer shall invest money in the fund in the same manner as surplus funds are invested under section 3 of Act No. 105 of the Public Acts of 1855, being section 21.143 of the Michigan Compiled Laws. Earnings shall be credited to the fund.
(4) Funds granted or funds received as gifts or donations to the fund shall be available for disbursement upon appropriation.
(5) Money remaining in the fund at the end of the fiscal year shall remain in the fund and be available for expenditure in the following year. The unencumbered balance at the close of the fiscal year shall not revert to the general fund.