CAPITOL PUBLIC IMPROVEMENT FUND
House Bills 4609 and 4610 (Proposed Substitutes H-1)
Sponsor: Rep. Steve Bieda
Committee: Government Operations
Complete to 6-18-07
A SUMMARY OF PROPOSED SUBSITUTES (H-1) FOR HOUSE BILLS 4609 & 4610
House Bill 4609 would amend the Legislative Council Act (MCL 4.1101, et. al) to create a Capitol Public Improvement Fund within the state treasury. The act would allow the state treasurer to receive money from any source for deposit in the Fund and require the treasurer to do the following: credit all monies received under the Management and Budget Act, direct the investment of the Fund, and credit interest and earnings from fund investments into the Fund. Money in the Fund at the close of a fiscal year would remain in the Fund and not lapse to the General Fund.
The Michigan Capitol Committee would expend Fund money, upon appropriation, only for Capitol staff training and improvement projects for which other sources of funding do not exist. The committee could only provide funding for projects that are submitted by a member of the House of Representatives, the Senate, the director of the Legislative Council Facilities Agency, or the executive director of the Michigan Capitol Committee
House Bill 4610 would amend Section 442 of the Management and Budget Act (MCL 18.1442) to provide that 50 percent of funds lapsed by an entity within the legislative branch at the end of the fiscal year would be transferred to and deposited into the Capitol Public Improvement Fund created in Legislative Council Act
The bills are tie-barred to each other, meaning neither can take effect unless both are enacted
FISCAL IMPACT:
A fiscal analysis is in progress.
Fiscal Analyst: Robin Risko
Mark Wolf
■ This analysis was prepared by nonpartisan House staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.