Act No. 55

Public Acts of 2002

Approved by the Governor

March 12, 2002

Filed with the Secretary of State

March 15, 2002

EFFECTIVE DATE: Upon SJR T becoming part of state constitution of 1963

STATE OF MICHIGAN

91ST LEGISLATURE

REGULAR SESSION OF 2002

Introduced by Senators Smith, Dunaskiss, Johnson, Gast, Bullard, McManus, Hart, North, DeBeaussaert, Koivisto, Dingell, Hoffman, Bennett, Sikkema, Steil, Shugars, Schuette, Gougeon, Hammerstrom, Goschka, Garcia, Schwarz and Peters

ENROLLED SENATE BILL No. 799

AN ACT to amend 1994 PA 451, entitled "An act to protect the environment and natural resources of the state; to codify, revise, consolidate, and classify laws relating to the environment and natural resources of the state; to regulate the discharge of certain substances into the environment; to regulate the use of certain lands, waters, and other natural resources of the state; to prescribe the powers and duties of certain state and local agencies and officials; to provide for certain charges, fees, and assessments; to provide certain appropriations; to prescribe penalties and provide remedies; to repeal certain parts of this act on a specific date; and to repeal certain acts and parts of acts," by amending section 43902 (MCL 324.43902), as amended by 2000 PA 69.

The People of the State of Michigan enact:

Sec. 43902. (1) The nongame fish and wildlife trust fund is created in the state treasury. The trust fund shall consist of all money credited to the trust fund pursuant to section 439 of the income tax act of 1967, 1967 PA 281, MCL 206.439, and section 811l of the Michigan vehicle code, 1949 PA 300, MCL 257.811l, and any interest and earnings accruing from the saving and investment of that money.

(2) The trust fund may receive appropriations, money, or other things of value.

(3) The state treasurer shall direct the investment of the trust fund. The state treasurer shall have the same authority to invest the assets of the trust fund as is granted to an investment fiduciary under the public employee retirement system investment act, 1965 PA 314, MCL 38.1132 to 38.1140l.

(4) The department shall annually prepare a report containing an accounting of revenues and expenditures from the trust fund. This report shall identify the interest and earnings of the trust fund from the previous year, the investment performance of the trust fund during the previous year, and the total amount of appropriations from the trust fund during the previous year. This report shall be provided to the senate and house of representatives appropriations committees and the standing committees of the senate and house of representatives with jurisdiction over issues pertaining to natural resources and the environment.

Enacting section 1. This amendatory act does not take effect unless Senate Joint Resolution T of the 91st Legislature becomes a part of the state constitution of 1963 as provided in section 1 of article XII of the state constitution of 1963.

This act is ordered to take immediate effect.

Secretary of the Senate.

Clerk of the House of Representatives.

Approved

Governor.