SB-0931, As Passed Senate, May 16, 2018

SUBSTITUTE FOR

SENATE BILL NO. 931

A bill to amend 1994 PA 451, entitled

"Natural resources and environmental protection act,"

by amending section 74119 (MCL 324.74119), as amended by 2002 PA

54.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

Sec. 74119. (1) In accordance with section 35a of article IX

of the state constitution of 1963, the Michigan state parks

endowment fund is created within the state treasury. The Michigan

state parks endowment fund may be referred to as the Genevieve

Gillette state parks endowment fund.

(2) The state treasurer may receive money or other assets from

any source for deposit into the endowment fund. The state treasurer

shall direct the investment of the endowment fund. The state

treasurer shall have the same authority to invest the assets of the

endowment fund as is granted to an investment fiduciary under the

public employee retirement system investment act, 1965 PA 314, MCL

38.1132 to ~~38.1140~~l. 38.1141. The state treasurer shall credit to

the endowment fund interest and earnings from endowment fund

investments.

(3) Money in the endowment fund at the close of the fiscal

year shall remain in the endowment fund and shall not lapse to the

general fund.

(4) The accumulated principal of the endowment fund shall not

exceed $800,000,000.00, which amount shall be annually adjusted

pursuant to the Detroit ~~consumer price index—all~~ Consumer Price

Index—All items beginning when the endowment fund reaches

$800,000,000.00. This annually adjusted figure is the accumulated

principal limit of the endowment fund.

(5) ~~Money~~ Until December 31, 2019, money in the endowment fund

shall be expended for operations, maintenance, and capital

improvements at Michigan state parks and for the acquisition of

land or rights in land for Michigan state parks.

~~(6) Money in the endowment fund shall be expended as follows:~~

(6) ~~(a) Until the endowment fund reaches an accumulated~~

~~principal of $800,000,000.00,~~ Until December 31, 2019, each state

fiscal year the legislature may appropriate not more than 50% of

the money received under section 35 of article IX of the state

constitution of 1963 plus interest and earnings and any private

contributions or other revenue to the endowment fund.

~~(b) Once the accumulated principal in the endowment fund~~

~~reaches $800,000,000.00, only the interest and earnings of the~~

~~endowment fund in excess of the amount necessary to maintain the~~

~~endowment fund's accumulated principal limit shall be expended.~~

(7) Beginning January 1, 2020, money in the endowment fund

shall be expended for the following:

(a) Operations, maintenance, and capital improvements at

Michigan state parks and for the acquisition of land or rights in

land for Michigan state parks.

(b) Local public recreation projects conducted by local units

of government and public authorities that provide for the

following:

(i) The development, renovation, and redevelopment of

motorized and nonmotorized trails and related infrastructure.

(ii) The development, renovation, and redevelopment of local

public recreation facilities. However, not more than 25% of the

total expenditures under this subparagraph may be expended for the

prevention of aquatic invasive species and the 1-time control of

aquatic invasive species conducted in conjunction with local public

recreation projects.

(8) Beginning January 1, 2020 and until the endowment fund

reaches an accumulative principal of $800,000,000.00, an

expenditure from the endowment fund may be made in the form of a

grant to a local unit of government or public authority, subject to

all of the following conditions:

(a) The grant is used for a local public recreation project

described in subsection (7)(b).

(b) The grant is matched by the local unit of government or

public authority with at least 25% of the total cost of the

project.

(9) Beginning January 1, 2020 and until the endowment fund

reaches an accumulated principal of $800,000,000.00, each state

fiscal year the legislature shall allocate the money received under

section 35 of article IX of the state constitution of 1963 as

follows:

(a) Thirty percent shall be retained by the endowment fund and

credited to the accumulated principal of the endowment fund.

(b) Fifty-five percent shall be made available for expenditure

for operations, maintenance, and capital improvements at Michigan

state parks and the acquisition of land and rights in land for

Michigan state parks.

for local public recreation projects authorized by this section.

(10) Beginning January 1, 2020 and until the endowment fund

reaches an accumulated principal of $800,000,000.00, the

legislature may appropriate the money made available for

expenditure under subsection (9) plus interest and earnings and any

private contributions or other revenue received by the endowment

fund.

(11) Once the accumulated principal in the endowment fund

reaches $800,000,000.00, only the interest and earnings of the

endowment fund and any private contributions or other revenue

received by the endowment fund in excess of the amount necessary to

maintain the endowment fund's accumulated principal limit shall be

expended for the following:

(a) Operations, maintenance, and capital improvements at

Michigan state parks and for the acquisition of land or rights in

land for Michigan state parks.

(b) The administration of the endowment fund.

(12) ~~(7)~~ Unexpended appropriations of the endowment fund from

any state fiscal year as authorized by this section may be carried

forward or may be appropriated as determined by the legislature for

purposes of this section.

(13) ~~(8)~~ The department shall annually prepare a report

containing an accounting of revenues and expenditures from the

endowment fund. This report shall identify the interest and

earnings of the endowment fund from the previous year, the

investment performance of the endowment fund during the previous

year, and the total amount of appropriations from the endowment

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 all of the following bills of the 99th Legislature are

enacted into law:

(a) Senate Bill No. 763.

(b) Senate Bill No. 932.

Enacting section 2. This amendatory act does not take effect