MICHIGAN PROMOTION FUND

Senate Bill 619

Sponsor:  Sen. Jason E. Allen

House Committee:  Tourism, Outdoor Recreation and Natural Resources

Senate Committee:  Finance

Complete to 3-8-10

A SUMMARY OF SENATE BILL 619 AS PASSED BY THE SENATE 3-3-10

Two-thirds of Michigan's use tax collections must be deposited into the General Fund, to be disbursed only by legislative appropriations.  The remainder is constitutionally earmarked for the State School Aid Fund.  The bill would amend the Use Tax Act to require the Department of Treasury to deposit $9.5 million dollars of use tax revenue into the Michigan Promotion Fund for the fiscal year ending September 30, 2010 only. 

[Note: The Michigan Promotion Fund does not currently exist ─ it would be created by House Bill 5018 (Rep. David Nathan).  (Senate Bill 619 and House Bill 5018 are not tie-barred.)  These bills and other pending bills are aimed at funding the "Pure Michigan" advertising campaign run by Travel Michigan in the Michigan Economic Development Corporation.]

MCL 205.111

 

FISCAL IMPACT:

The aim of the bill is to earmark $9.5 million of use tax revenue that otherwise would go to the General Fund to the Michigan Promotion Fund.

                                                                                           Legislative Analyst:   Shannan Kane

                                                                                                  Fiscal Analyst:   Jim Stansell

■ 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.