SB-1014, As Passed Senate, March 10, 2004                                   

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                              SUBSTITUTE FOR                                    

                                                                                

                           SENATE BILL NO. 1014                                 

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                 A bill to amend 1994 PA 451, entitled                                             

                                                                                

    "Natural resources and environmental protection act,"                       

                                                                                

    by amending section 36202 (MCL 324.36202), as added by 2000 PA              

                                                                                

    262.                                                                        

                                                                                

                THE PEOPLE OF THE STATE OF MICHIGAN ENACT:                      

                                                                                

1       Sec. 36202.  (1) The agricultural preservation fund is                      

                                                                                

2   created within the state treasury.                                          

                                                                                

3       (2) The state treasurer may receive money or other assets                   

                                                                                

4   from any source for deposit into the fund, including federal                

                                                                                

5   funds, other state revenues, gifts, bequests, and other                     

                                                                                

6   donations.  The state treasurer shall direct the investment of              

                                                                                

7   the fund and shall credit to the fund interest and earnings from            

                                                                                

8   fund investments.                                                           

                                                                                

9       (3) Money in the fund at the close of the fiscal year shall                 

                                                                                

10  remain in the fund and shall not lapse to the general fund.                 

                                                                                


                                                                                

1       (4) Money in the fund may be expended, upon appropriation,                  

                                                                                

2   following approval of the board and the commission, as follows:             

                                                                                

3       (a) Not more than  $700,000.00  $900,000.00 annually for the                

                                                                                

4   administrative costs of the department and the board in                     

                                                                                

5   implementing this part and part 361.  However, if deposits into             

                                                                                

6   the fund during any given fiscal year exceed  $8,750,000.00                 

                                                                                

7   $11,250,000.00, up to 8% of the deposits may be expended for                

                                                                                

8   administrative costs pursuant to this subdivision.                          

                                                                                

9       (b) After expenditures for the administrative costs under                   

                                                                                

10  subdivision (a), money in the fund may be used to provide grants            

                                                                                

11  to local units of government pursuant to section 36203.                     

                                                                                

12      (c) After expenditures under subdivisions (a) and (b) have                  

                                                                                

13  been made, if the amount of money remaining in the fund exceeds             

                                                                                

14  $5,000,000.00, money in the fund may be used pursuant to                    

                                                                                

15  section 36111b  part 361 for the purchase of development rights            

                                                                                

16  to farmland or the acquisition of agricultural conservation                 

                                                                                

17  easements.                                                                  

                                                                                

18      (5) Expenditures of money in the fund as provided in this                   

                                                                                

19  part are consistent with the state's interest in preserving                 

                                                                                

20  farmland and are declared to be for an important public purpose.