Sec. 4.
(1) The Michigan settlement administration authority is created as a public body corporate and politic within the department of treasury. The authority is a state institution within the meaning of section 9 of article II of the state constitution of 1963 and an instrumentality of this state exercising public and essential governmental functions. The exercise by the authority of the powers conferred by this act is an essential governmental function of this state.
(2) For the fiscal year ending September 30, 2014, there is appropriated $194,800,000.00 from the settlement administration fund to be used only as provided in this act.
History: 2014, Act 187, Imd. Eff. June 20, 2014