February 27, 2003, Introduced by Senators THOMAS, SCHAUER, GOSCHKA, GEORGE, CLARK-COLEMAN, HARDIMAN, SCOTT and CLARKE and referred to the Committee on Transportation.
A bill to amend 1949 PA 300, entitled
"Michigan vehicle code,"
(MCL 257.1 to 257.923) by adding section 217j.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
1 Sec. 217j. (1) The Michigan freedom trail fund is created
2 within the state treasury.
3 (2) The state treasurer may receive money or other assets
4 from any source for deposit into the fund. The state treasurer
5 shall direct the investment of the fund. The state treasurer
6 shall credit to the fund interest and earnings from fund
7 investments.
8 (3) Money in the fund at the close of the fiscal year shall
9 remain in the fund and shall not lapse to the general fund.
10 (4) The state treasurer shall disburse money in the fund on a
11 quarterly basis to the Michigan freedom trail commission.
1 (5) As used in this section, "fund" means the Michigan
2 freedom trail fund created in subsection (1).
3 Enacting section 1. This amendatory act does not take
4 effect unless Senate Bill No. _____ or House Bill No. _____
5 (request no. 02337'03 *) of the 92nd Legislature is enacted into
6 law.