Michigan Laws 4.1949 – State capitol parking fund; creation within state treasury; deposit of money or other assets; investment; money remaining at end of fiscal year; administration; expenditures
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Terms Used In Michigan Laws 4.1949
- 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.
- Commission: means the Michigan state capitol commission established in section 5. See Michigan Laws 4.1942
- 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 state capitol historic site fund created in section 7. See Michigan Laws 4.1942
- 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 state capitol parking fund is created within the state treasury.
(2) The state treasurer may receive money or other assets from any source for deposit into the state capitol parking fund. The state treasurer shall direct the investment of the state capitol parking fund. The state treasurer shall credit to the state capitol parking fund interest and earnings from fund investments.
(3) Money in the state capitol parking fund at the close of the fiscal year shall remain in the state capitol parking fund and shall not lapse to the general fund.
(4) The commission shall be the administrator of the state capitol parking fund for auditing purposes.
(5) The commission shall expend money from the state capitol parking fund, upon appropriation, only for operations and maintenance of the state capitol parking lot.