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Bill > HB4274
MI HB4274
MI HB4274State management: funds; revenue sharing trust fund; create. Amends sec. 2 of 2000 PA 489 (MCL 12.252) & adds secs. 11a & 11b. TIE BAR WITH: HB 4275'23
summary
Introduced
03/14/2023
03/14/2023
In Committee
11/02/2023
11/02/2023
Crossed Over
11/01/2023
11/01/2023
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
102nd Legislature
Bill Summary
A bill to amend 2000 PA 489, entitled"Michigan trust fund act,"by amending section 2 (MCL 12.252), as amended by 2023 PA 174, and by adding sections 11a and 11b.
AI Summary
This bill establishes the Revenue Sharing Trust Fund within the Department of Treasury. The fund will consist of money from the General Sales Tax Act, as well as donations and investment earnings. Beginning October 1, 2024, the state treasurer will transfer and disburse money from the fund to eligible cities, villages, townships, and counties based on a formula tied to previous revenue sharing distributions. The bill also requires the governor and state budget director to include an appropriation for the fund in the annual budget submitted to the legislature. The bill will only take effect if House Bill No. 4275 is also enacted into law.
Committee Categories
Budget and Finance
Sponsors (18)
Amos O'Neal (D)*,
Joe Aragona (R),
Bob Bezotte (R),
Matthew Bierlein (R),
Nancy DeBoer (R),
Jaime Greene (R),
Kara Hope (D),
Jason Hoskins (D),
Tom Kuhn (R),
David Martin (R),
Bill Schuette (R),
Nate Shannon (D),
Brad Slagh (R),
Donni Steele (R),
Mark Tisdel (R),
Curt VanderWall (R),
Doug Wozniak (R),
Dale Zorn (R),
Last Action
Referred To Committee On Finance, Insurance, And Consumer Protection (on 11/02/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://legislature.mi.gov/doc.aspx?2023-HB-4274 |
| House Substitute (H-2) | https://legislature.mi.gov/mileg.aspx?page=CurrentVersionAmendment&cvFileName=2023-HCVBS-4274-0O339.pdf |
| House Substitute (H-1) | https://legislature.mi.gov/mileg.aspx?page=CurrentVersionAmendment&cvFileName=2023-HCVBS-4274-0O338.pdf |
| BillText | http://www.legislature.mi.gov/documents/2023-2024/billengrossed/House/htm/2023-HEBH-4274.htm |
| House Substitute (H-1) | https://legislature.mi.gov/mileg.aspx?page=CurrentVersionAmendment&cvFileName=2023-HCVBS-4274-0N295.pdf |
| Fiscal Note/Analysis - Summary as Reported from Committee | https://legislature.mi.gov/documents/2023-2024/billanalysis/House/pdf/2023-HLA-4274-EE2452D9.pdf |
| Fiscal Note/Analysis - Summary of Proposed H-1 Substitutes | https://legislature.mi.gov/documents/2023-2024/billanalysis/House/pdf/2023-HLA-4274-FA6B300B.pdf |
| BillText | http://www.legislature.mi.gov/documents/2023-2024/billintroduced/House/htm/2023-HIB-4274.htm |
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