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MI HB6133
Bill
Status
Introduced
5/24/2022
Primary Sponsor
Jim Ellison
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AI Summary
- Establishes a revenue sharing trust fund in the state treasury, funded by deposits required under the general sales tax act, donations, and investment earnings
- Directs the state treasurer to distribute $542,761,800 annually starting October 15, 2022 and every other month thereafter: at least $311,245,100 to cities, villages, and townships and at least $231,516,700 to counties, based on formulas from 2021 PA 87
- Requires excess revenue sharing funds above $542,761,800 to be distributed according to the Glenn Steil state revenue sharing act formulas for both counties and municipalities
- Prohibits transfers or expenditures of revenue sharing trust fund money except as specifically authorized in the bill
- Requires the governor and state budget director to include appropriations for revenue sharing distributions in the annual budget submitted to the legislature, contingent upon enactment of Senate Bill No. ____ or House Bill No. 6134
Legislative Description
State financing and management: funds; revenue sharing trust fund; create. Amends sec. 2 of 2000 PA 489 (MCL 12.252) & adds secs. 11a & 11b.
State financing and management: funds
Last Action
Bill Electronically Reproduced 05/24/2022
5/25/2022
Committee Referrals
Appropriations5/24/2022
Full Bill Text
No bill text available