Senate Bill 16 Summary

• Modifies the Michigan Natural Resources Trust Fund to require 40% of revenues (instead of the previous structure) be transferred to the Michigan State Parks Endowment Fund until it reaches $400,000,000 in accumulated principal.

• Expands allowable uses of trust fund interest and earnings to include infrastructure for natural-resource-based industries (timber harvesting and mining) and waterway infrastructure (breakwaters and dredging operations).

• Removes the limitation that prevented expenditure of principal revenues after the trust fund reached $500,000,000, and changes the accumulated principal threshold to $400,000,000.

• Repeals Section 1904 of the Natural Resources and Environmental Protection Act and ties the bill's effectiveness to passage of Senate Joint Resolution C of the 98th Legislature as a constitutional amendment.