Michigan Laws 388.1611m – Fiscal year cash-flow borrowing costs; allocation
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Terms Used In Michigan Laws 388.1611m
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
From the state school aid fund money appropriated in section 11, there is allocated for 2022-2023 an amount not to exceed $1,000,000.00 and there is allocated for 2023-2024 an amount not to exceed $1,000,000.00 for fiscal year cash-flow borrowing costs solely related to the state school aid fund established under section 11 of article IX of the state constitution of 1963.