Migratory labor housing fund; creation; appropriation; deposit; investment; interest and earnings; administration for auditing purposes; use of funds; money in fund.

Sec. 12431. (1) A migratory labor housing fund is created within the state treasury and shall receive funds appropriated by the legislature and as provided under this part. 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. The department shall be the administrator of the fund for auditing purposes. (2) Money in the fund shall be used for implementation of this part. (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.