HB 6482 Summary

• Establishes the Michigan Natural Resources Trust Fund in the state treasury pursuant to Article IX, Section 35 of the 1963 state constitution.

• Redirects revenue distribution from bonuses, rentals, delayed rentals, and royalties from state-owned land leases for nonrenewable resource extraction: 20% to the Michigan Natural Resources Trust Fund, 20% to the state aeronautics fund, and 60% to the Michigan Transportation Fund.

• Excludes from the trust fund revenue from state-owned lands acquired with money from the former game and fish protection fund, the Michigan conservation and recreation legacy fund, former 1976 PA 204, or federal wildlife and fish restoration funds.

• Transfers 50% of monthly revenues to the Michigan State Parks Endowment Fund (capped at $10,000,000 annually) until the trust fund reaches $500,000,000 in accumulated principal.

• Repeals Section 1908 of the Natural Resources and Environmental Protection Act and conditions the amendment's effectiveness on passage of a related joint resolution (HJR NNN).