Michigan Laws 4.1947 – Michigan state capitol historic site fund; creation within state treasury; deposit of money or other assets into fund; investment; money remaining at end of fiscal year; administration; expenditu
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Terms Used In Michigan Laws 4.1947
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Commission: means the Michigan state capitol commission established in section 5. See Michigan Laws 4.1942
- 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.
- Fund: means the Michigan state capitol historic site fund created in section 7. See Michigan Laws 4.1942
- 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
(1) The Michigan state capitol historic site fund is created within the state treasury.
(2) The state treasurer may receive money or other assets from any source for deposit into the fund, including private gifts, bequests, and donations. The state treasurer shall direct the investment of the fund. The state treasurer shall credit to the fund interest and earnings from fund investments.
(3) Money in the fund at the close of the fiscal year shall remain in the fund and shall not lapse to the general fund.
(4) The commission shall be the administrator of the fund for auditing purposes.
(5) The commission shall expend money from the fund to carry out its responsibilities under this act.