Sec. 64108.
(1) The peat resource conservation and development fund is created in the state treasury.
(2) Subject to subsections (3) and (4), the following shall be deposited in the peat resource conservation and development fund:
(a) Money received by the state under contracts for the taking of peat.
(b) The fees imposed under this part.
(3) Money received by the state under contracts for taking of peat from state owned lands acquired with game and fish protection funds shall be deposited in the game and fish protection account of the Michigan conservation and recreation legacy fund provided for in section 2010.
(4) If the money in the fund exceeds $250,000.00 at the end of a state fiscal year, the excess shall be deposited in the Michigan natural resources trust fund created in section 35 of article IX of the state constitution of 1963 and provided for in section 1902 or as otherwise provided by law.
History: Add. 1995, Act 57, Imd. Eff. May 24, 1995 ;-- Am. 2004, Act 587, Eff. Dec. 23, 2006
Compiler's Notes: Enacting section 2 of Act 587 of 2004 provides:"Enacting section 2. This amendatory act does not take effect unless House Joint Resolution Z of the 92nd Legislature becomes a part of the state constitution of 1963 as provided in section 1 of article XII of the state constitution of 1963."
Popular Name: Act 451
Popular Name: NREPA