MI SB0931

Creates the Michigan State Parks Endowment Fund (also known as the Genevieve Gillette State Parks Endowment Fund) within the state treasury to receive money and assets from any source for state parks purposes.

Establishes an accumulated principal limit of $800,000,000, adjusted annually by the Detroit Consumer Price Index once that threshold is reached.

Permits endowment fund expenditures for capital improvements, operations and maintenance, land acquisition, and fund administration at Michigan state parks, with at least 20% of annual expenditures dedicated to capital improvements.

Allows the legislature to appropriate up to 50% of constitutional revenue plus interest, earnings, and private contributions to the endowment until it reaches $800,000,000; thereafter only excess interest and earnings above the principal limit may be expended.

Requires the department to provide annual reports to legislative appropriations committees and natural resources committees detailing revenues, expenditures, investment performance, and earnings of the endowment fund.