Michigan Laws 399.805 – Michigan heritage publications fund; creation; deposit of money or assets; investment; credit of interest and earnings; money remaining at close of fiscal year; administrator; use of money
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Terms Used In Michigan Laws 399.805
- 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.
- Center: means the Michigan history center. See Michigan Laws 399.802
- Department: means the department of natural resources. See Michigan Laws 399.802
- 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.
- Publications fund: means the Michigan heritage publications fund created in section 5. See Michigan Laws 399.802
- 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 Michigan heritage publications fund is created within the state treasury.
(2) The state treasurer may receive money or other assets from any source for deposit into the publications fund. The state treasurer shall direct the investment of the publications fund. The state treasurer shall credit to the publications fund interest and earnings from publications fund investments.
(3) Money in the publications fund at the close of the fiscal year shall remain in the publications fund and shall not lapse to the general fund.
(4) The department shall be the administrator of the publications fund for auditing purposes.
(5) The department shall use money in the publications fund, upon appropriation, to pay the production, printing, distribution, and promotion costs of historical materials listed in section 4 and to support center programs.