Sec. 1i.
(1) The Michigan set aside 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. 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 state treasurer shall be the administrator of the fund for auditing purposes.
(5) The department of state police, the department of technology, management, and budget, and the state court administrative office shall expend money from the fund, upon appropriation, only for 1 or more of the following purposes:
(a) Implementation costs associated with changes made to this act by the amendatory act that added this section.
(b) System upgrades necessitated by the changes made to this act by the amendatory act that added this section.
(c) Staffing needs necessitated by the changes made to this act by the amendatory act that added this section.
History: Add. 2020, Act 193, Eff. Apr. 11, 2021