HOUSE BILL No. 4826 May 22, 1997, Introduced by Reps. Gilmer, Johnson, McBryde, Geiger, Godchaux, Scranton, Oxender, Jansen, Bobier and Jellema and referred to the Committee on Appropriations. A bill to amend 1984 PA 431, entitled "The management and budget act," by amending section 352 (MCL 18.1352), as amended by 1991 PA 72. THE PEOPLE OF THE STATE OF MICHIGAN ENACT: 1 Sec. 352. (1)WhenEXCEPT AS OTHERWISE PROVIDED IN SUB- 2 SECTION (2), WHEN the annual growth rate is more than 2%, the 3 percentage excess over 2% shall be multiplied by the total state 4 general fund-general purpose revenue for the fiscal year ending 5 in the current calendar year to determine the amount to be trans- 6 ferred to the fund from the state general fund in the fiscal year 7 beginning in the current calendar year. 8 (2) BEGINNING WITH THE FISCAL YEAR ENDING SEPTEMBER 30, 9 1997, ALL UNEXPENDED AND UNENCUMBERED GENERAL FUND GENERAL 10 PURPOSE BALANCES AT THE CLOSE OF EACH FISCAL YEAR SHALL BE 11 APPROPRIATED AND TRANSFERRED TO THE FUND. IF AN AMOUNT IS 00132'97 JLB 2 1 REQUIRED TO BE TRANSFERRED TO THE FUND FOR A FISCAL YEAR UNDER 2 SUBSECTION (1), ANY AMOUNT TRANSFERRED UNDER THIS SUBSECTION 3 SHALL BE CONSIDERED A PART OF THE TRANSFER REQUIRED UNDER SUBSEC- 4 TION (1). 5 (3)(2)When the annual growth rate is less than 0%, the 6 percentage deficiency under 0% shall be multiplied by the total 7 state general fund-general purpose revenue for the fiscal year 8 ending in the current calendar year to determine the eligible 9 amount to be transferred to the state general fund from the fund 10 in the current fiscal year. When the formula calls for a larger 11 transfer from the fund than is necessary to balance the current 12 fiscal year state general fund-general purpose budget, the excess 13 shall remain in the fund. 00132'97 Final page. JLB