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2014-HIB-5572

2014-HIB-5572

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Published by WDET 101.9 FM
Bill to make $194.8 million from the Budget Stabilization Fund available for appropriation.
Bill to make $194.8 million from the Budget Stabilization Fund available for appropriation.

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Published by: WDET 101.9 FM on May 09, 2014
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05/09/2014

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05105'14 * JLB
   H   O   U   S   E   B   I   L   L   N  o .   5   5   7   2
 O U  S I   o. 5  5 
 
HOUSE BILL No. 5572
May 8, 2014, Introduced by Reps. Olumba and Walsh and referred to the Committee on Detroit's Recovery and Michigan's Future.
 A bill to amend 1984 PA 431, entitled "The management and budget act," by amending section 353 (MCL 18.1353), as amended by 1999 PA 8.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT: 1
Sec. 353. (1) In a calendar quarter following a calendar
2
quarter in which the seasonally adjusted state unemployment rate
3
as certified by the director of the department of career
4
development
LICENSING AND REGULATORY AFFAIRS
or its successor is
5
8% or more, an amount may be appropriated from the fund by the
6
legislature for the purposes listed in this section in accordance
7
with the following table:
8
Percent of seasonally Percent of fund available
9
adjusted unemployment for economic stabilization
10
in the calendar quarter during the calendar quarter
 
 2 05105'14 * JLB
1
preceding the calendar following a calendar quarter
2
quarter in which an of high unemployment
3
amount may be appropriated
4
_______________________________ _______________________________
5
8.0-11.9% 2.5% of fund balance
6
as of first day of
7
calendar quarter
8
12.0% and over 5.0% of fund balance
9
as of first day of
10
calendar quarter
11
(2) The legislature may appropriate by law money from the
12
fund in the amounts as provided in this section to assist in the
13
following countercyclical economic stabilization purposes:
14
(a) Capital outlay.
15
(b) Public works and public service jobs.
16
(c) Refundable investment or employment tax credits against
17
state business taxes for new outlays and hiring in this state.
18
(d) Any other purpose the legislature may provide by law
19
which provides employment opportunities counter to the state's
20
economic cycle.
 21 (E) ANY OTHER PURPOSE THE LEGISLATURE MAY PROVIDE BY LAW.
 
22
(3) Notwithstanding subsections (1) and (2), there is hereby
23
appropriated $40,000,000.00 from the fund for the Michigan state
24
parks endowment fund. The appropriation provided for in this
25
subsection shall only be effective after the proceeds from the
26
sale of the accident fund have been transferred to the fund as
27
provided for in
FORMER
section 701a of the worker's disability

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