February 8, 2005, Introduced by Rep. Caswell and referred to the Committee on Natural Resources, Great Lakes, Land Use, and Environment.
A bill to amend 1994 PA 451, entitled
"Natural resources and environmental protection act,"
by amending section 32610 (MCL 324.32610), as added by 2000 PA 277;
and to repeal acts and parts of acts.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 32610. (1) The submerged log recovery fund is created
within the state treasury.
(2) 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.
(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.
(4) Subject to subsection (5), money from the fund shall be
used, upon appropriation, for the administrative costs of the
department, the department of natural resources, and the department
of state in implementing this part.
(5)
On December 1, 2001 and on December 1 of each
following
year the effective date of the 2005 amendatory act
that amended
this section, the state treasurer shall transfer the balance of the
fund
as follows:
(a)
Fifty percent to the Great
Lakes fund created in section
32611.
(b)
Fifty percent to the forest development fund established
under
section 50507.
Enacting section 1. The following sections of the natural
resources and environmental protection act, 1994 PA 451, are
repealed:
(a) Sections 32601 to 32609, MCL 324.32601 to 324.32609.
(b) Sections 32612 to 32615, MCL 324.32612 to 324.32615.