Title 12, STATE TREASURER

Sec. 14. In addition to any other powers conferred upon the authority by law, when exercising its powers under this act the authority shall have all of the following powers: (a) To solicit and accept gifts, grants, and loans from any person. (b) To invest any money of the authori…

Sec. 15. A bond or ancillary facility issued under this act is not a debt or liability of this state or any agency or instrumentality of this state, other than the authority as set forth in this act, either legal, moral, or otherwise. It does not create or constitute any indebted…

Sec. 16. (1) The property of the authority and its income and operations under this act are exempt from taxation by this state and any political subdivision of this state. (2) If the authority intends the interest on bonds it issues to be exempt from federal income tax, the autho…

Sec. 17. (1) This state hereby pledges and agrees with the authority, and the owners of the bonds and parties to ancillary facilities, that until all bonds and ancillary facilities, together with the interest on the bonds and ancillary facilities and all costs and expenses in con…

Sec. 18. Notwithstanding any restriction contained in any other law, rule, regulation, or order to the contrary, this state and all political subdivisions of this state; their officers, boards, commissioners, departments or other agencies; governmental pension funds; all banks, t…

Sec. 19. This act and all powers granted in it shall be liberally construed to effectuate its intent and purposes, without implied limitations on the powers of the authority or the state treasurer. This act is full, complete, and additional authority for all things that are conte…

Sec. 20. Subject to any agreements with bondholders, the authority may use any funds available to purchase bonds of the authority at a price determined by the authority.

Sec. 21. (1) Notwithstanding any existing provision of law and in addition to any other appropriations provided by law, $1,000,000.00 is appropriated from the general fund to the authority for the fiscal year ending September 30, 2012 for all of the following purposes: (a) Paymen…

Sec. 22. Except as otherwise provided in this section, any legal action against the authority shall be brought in the Michigan court of appeals, which has exclusive jurisdiction. However, any legal actions against the authority seeking money damages shall be brought in the court …

Sec. 23. (1) This act governs the creation, perfection, priority, and enforcement of any pledge of revenues or other security made by the authority under this act. Each pledge of the authority is valid and binding as of the time the pledge is made. The encumbered revenues, reserv…

Sec. 24. Bonds issued under this act are limited to the principal amount necessary to satisfy this state's obligations to the federal government for advances or loans from the federal account of the unemployment trust fund, to pay unemployment benefits before January 1, 2014, and…

Sec. 1. As used in this act: (a) "Department" means the department of treasury. (b) "Funding unit" means 1 of the following, as applicable: (i) For a circuit other than the third circuit of the circuit court, each county in the circuit. (ii) For the third circuit of the circuit c…

Sec. 2. The department, and a circuit, district, or municipal court, together with its funding unit if its funding unit is not the state, may enter into an agreement as provided in section 3.

Sec. 3. An agreement entered into under this act shall provide for at least all of the following: (a) Assignment to the state for collection by the department of amounts that have been due and owing the court for not less than 180 days, including, but not limited to, any or all o…

Sec. 4. A fee imposed by the department to recoup costs associated with the collection services provided under this act shall be calculated and collected on the same basis as fees charged by the department to other state agencies for the same collection services.

Sec. 5. For collection purposes only, a delinquent account assigned to the department for collection under this act shall be considered debts, unpaid accounts, or amounts due the state. In carrying out an agreement entered into under section 2, the department shall secure the col…

Sec. 6. The department, pursuant to its statutory and common law authority, may offset tax refunds or other payments due from the state to a person who owes a debt to a court that would be collectible under an agreement described in this act. The order of priority in offsetting t…

Sec. 7. When the court receives money collected by the department under this act, the court shall, after deducting the amount of the fee paid to the department for the cost of collection, distribute the remaining amount as required by law.

Sec. 8. This act shall take effect January 1, 1994.

Sec. 9. This act shall not take effect unless House Bill No. 4957 of the 87th Legislature is enacted into law.

Sec. 1. This act shall be known and may be cited as the "Michigan trust fund act".

Sec. 2. As used in this act: (a) "Community district education trust fund" means the community district education trust fund created in section 12. (b) "Flint settlement trust fund" means the Flint settlement trust fund created in section 11. (c) "Local government reimbursement f…

Sec. 3. (1) The Michigan opioid healing and recovery fund is created in the department of treasury. (2) The state treasurer shall deposit all proceeds received by this state as a result of any judgment, settlement, or compromise of claims pertaining to violations, or alleged viol…

Sec. 3a. (1) The local government reimbursement fund is created in the state treasury. (2) The state treasurer shall deposit money and assets received under section 21(7) of the use tax act, 1937 PA 94, MCL 205.111, or from any other source in the fund. The state treasurer shall …

Sec. 4. (1) The strategic outreach and attraction reserve fund is created in the department of labor and economic opportunity. (2) The state treasurer shall deposit money and other assets received from state appropriations or from any other source in the strategic outreach and at…

Sec. 5. (1) The Michigan medicaid benefits trust fund is established in the department of treasury. The medicaid benefits trust fund shall consist only of the following: (a) Interest and earnings from medicaid benefits trust fund investments. (b) Donations of money made to the me…

Sec. 6. The legislature shall authorize the expenditure of medicaid benefits trust fund revenues through an appropriation act only for 1 or more of the following purposes: (a) To finance a shortfall in the medicaid program due to a disallowance of medicaid payments from the feder…

Sec. 7. (1) The 21st century jobs trust fund is established in the department of treasury. The 21st century jobs trust fund consists of donations of money made to the 21st century jobs trust fund from any source and all of the following: (a) To the extent provided in section 8(1)…

Sec. 8. (1) Except as otherwise provided in subsection (2), on request from the fund board, as that term is defined in section 88a of the Michigan strategic fund act, 1984 PA 270, MCL 125.2088a, the state treasurer shall transfer and disburse money from the 21st century jobs trus…

Sec. 9. (1) The Michigan merit award trust fund is established in the department of treasury. The Michigan merit award trust fund shall consist only of interest and earnings from Michigan merit award trust fund investments, donations of money made to the trust fund from any sourc…

Sec. 10. Upon appropriation, the state treasurer shall disburse funds from the Michigan merit award trust fund for 1 or more of the following purposes: (a) Michigan merit award scholarships under the Michigan merit award scholarship act, 1999 PA 94, MCL 390.1451 to 390.1459, or t…

Sec. 11. (1) The Flint settlement trust fund is created within the state treasury. The Flint settlement trust fund is established to address the consolidated cases known as In re Flint Water Cases, No. 5:16-cv-10444-JEL-MKM (ED Mich), in connection with the preliminary approval o…

Sec. 12. (1) The community district education trust 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 community district education …

Sec. 1. This act shall be known and may be cited as the "unified volume limitation allocation act".

Sec. 2. As used in this act: (a) "Bonds" means private activity bonds subject to the unified volume limitation and any other bonds, notes, and evidences of indebtedness, including certain lease and installment purchase obligations, that would be treated by the internal revenue se…

Sec. 3. Each year, the treasurer shall determine the unified volume limitation and the allotment of the unified volume limitation for the following calendar year and shall publish that determination in 3 newspapers of general circulation in different parts of the state, 1 of whic…

Sec. 4. (1) The treasurer shall allot 40% of the unified volume limitation to the state issuers and 60% of the unified volume limitation to the municipal issuers for allocation pursuant to this act. If, during a year, 90% of the allotment to municipal issuers has been allocated, …

Sec. 5. (1) A state or municipal issuer seeking to issue bonds shall file with the treasurer a request for allocation containing all of the following information and supporting documentation unless the treasurer determines the information required would be unnecessary to the type…

Sec. 6. (1) Except as provided by subsection (3), the treasurer shall consider all completed requests for allocations pursuant to section 5 in the order of filing. (2) The treasurer shall either approve or deny a request for allocation from the unified volume limitation for a par…

Sec. 7. (1) An allocation order shall allocate the principal amount of bonds requested or, for an issue of refunding bonds, the principal amount of the proposed issue expected to exceed the amount of the obligation to be refunded, for a request by a municipal issuer, against the …

Sec. 8. (1) A change in the facility to be financed, the issuer, the year for which the allocation is requested, or, if required to be specified in the request for allocation, the owner of the facility invalidates the request. If a change described in this subsection occurs after…

Sec. 9. (1) Within 10 calendar days after the expiration date of an allocation approval order, including any extension, but not later than December 26 for allocations that expire before December 22, the issuer of bonds for which an allocation of the unified volume limitation is m…

Sec. 10. (1) In addition to an allocation under section 6, during the months of October, November, and December of each year, an issuer may request, or the treasurer may order without request, an order providing for a carryforward allocation for a proposed issue of bonds for an i…

Sec. 11. (1) The treasurer shall maintain records of the volume of bonds for which the unified volume limitation has been allocated, the amount of the unified volume limitation allocated to state issuers, and the amount allocated to municipal issuers during each calendar year. Th…

Sec. 12. This act does not authorize a state issuer or a municipal issuer to issue bonds.

Sec. 13. (1) This act applies to allocations made against the unified volume limitation for calendar year 1989 and each year after 1989 and to bonds issued after December 31, 1988 that have allocations ratified by subsection (2). (2) An allocation made under Executive Order 1984-…