Section 18.1358 - Emergency appropriation from fund; conditions; amounts.
THE MANAGEMENT AND BUDGET ACT (EXCERPT)
Act 431 of 1984
18.1358 Emergency appropriation from fund; conditions; amounts.
Sec. 358.
(1) Except as otherwise provided in this section, the legislature may make an emergency appropriation from the fund subject to all of the following conditions:
(a) The maximum appropriation from the fund for budget stabilization as provided in section 352(2) has already been made for the current fiscal year.
(b) The legislature has approved the emergency appropriations bill by a 2/3 majority vote of the members elected to and serving in each house.
(c) The emergency appropriations bill becomes law.
(2) The additional transfer from the fund may be made only for the current fiscal year.
(3) For the fiscal year ending September 30, 2001, the fiscal year ending September 30, 2002 and for each fiscal year beginning with the fiscal year ending September 30, 2004 and ending with the fiscal year ending September 30, 2016, there is appropriated and transferred from the fund to the state trunk line fund established under section 11 of 1951 PA 51, MCL 247.661, the sum of $35,000,000.00.
(4) For the fiscal year ending September 30, 2000, there is appropriated and transferred from the fund to the state trunk line fund established under section 11 of 1951 PA 51, MCL 247.661, the sum of $37,100,000.00.
(5) For the fiscal year ending September 30, 2000, an amount equal to the unreserved general fund/general purpose balance transferred to the fund for the fiscal year ending September 30, 2000, but not to exceed $62,900,000.00, is appropriated and transferred from the fund to the state trunk line fund established under section 11 of 1951 PA 51, MCL 247.661.
History: 1984, Act 431, Eff. Mar. 29, 1985 ;-- Am. 2000, Act 189, Imd. Eff. June 20, 2000 ;-- Am. 2002, Act 504, Imd. Eff. July 19, 2002
Popular Name: Act 431
Popular Name: DMB
Popular Name: Rainy Day Fund