Michigan Laws 333.12431 – Migratory labor housing fund; creation; appropriation; deposit; investment; interest and earnings; administration for auditing purposes; use of funds; money in fund
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Terms Used In Michigan Laws 333.12431
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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 migratory labor housing fund. See Michigan Laws 333.12401
- 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) A migratory labor housing fund is created within the state treasury and shall receive funds appropriated by the legislature and as provided under this part. The state treasurer may receive money or other assets from any source for deposit into the fund. The state treasurer shall direct the investment of the fund. The state treasurer shall credit to the fund interest and earnings from fund investments. The department shall be the administrator of the fund for auditing purposes.
(2) Money in the fund shall be used for implementation of this part.
(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.