SENATE BILL No. 829

November 29, 2001, Introduced by Senator GARCIA and referred to the Committee on

Finance.

A bill to amend 1967 PA 55, entitled

"An act relating to the management of state funds; to prescribe

the powers and duties of the state treasurer and the state admin-

istrative board; and to repeal certain acts and parts of acts,"

by amending section 1 (MCL 12.51).

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

1 Sec. 1. In order that state obligations may be paid as they

2 become due, the state treasurer, with the approval of the state

3 administrative board, may transfer cash on hand and on deposit

4 among the various funds in the state treasury in such manner as

5 to best manage the available cash on hand. Notwithstanding the

6 provisions of any other act to the contrary, no advance appropri-

7 ations shall be made to any municipality as defined in section 2

8 of Act No. 202 of the Public Acts of 1943, as amended, being

9 section 131.2 of the Compiled Laws of 1948 THE REVISED MUNICIPAL

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2

1 FINANCE ACT, 2001 PA 34, MCL 141.2101 TO 141.2821, without the

2 approval of the state administrative board.

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