Michigan Compiled Laws § 333.5911 Michigan Health Initiative Fund; Creation; Administration; Expenditures; Fund Cumulative; Amounts Credited To Fund; Investment Of Fund; Crediting Earnings; Disposition And Use Of Unencumbered Balance.

333.5911 Michigan health initiative fund; creation; administration; expenditures; fund cumulative; amounts credited to fund; investment of fund; crediting earnings; disposition and use of unencumbered balance.

Sec. 5911.

(1) The Michigan health initiative fund is created in the state treasury and shall be administered by the department. The fund shall be expended only as 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.

(2) The state treasurer shall credit to the fund all amounts appropriated for that purpose under this section, section 25 of the general sales tax act, 1933 PA 167, MCL 205.75, and section 21 of the use tax act, 1937 PA 94, MCL 205.11. The state treasurer may receive money or other assets from any source for deposit into the fund.

(3) The state treasurer shall direct the investment of the fund. Earnings shall be credited to the fund.

(4) The unencumbered balance remaining in the fund at the close of the fiscal year shall remain in the fund, and shall not revert to the general fund.

History: Add. 1987, Act 258, Eff. July 1, 1988 ;-- Am. 2006, Act 238, Imd. Eff. June 26, 2006
Popular Name: Act 368

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Last modified: October 10, 2016