MI SB0699

Increases the annual cap on administrative expenditures from the Agricultural Preservation Fund from the current amount to $1,700,000 for implementing farmland preservation programs

The Agricultural Preservation Fund remains within the state treasury, receiving money from federal funds, state revenues, gifts, bequests, and donations, with earnings credited back to the fund

After administrative costs, fund money may be used for grants to local governments for farmland preservation and, if the fund exceeds $5,000,000, for purchasing development rights or agricultural conservation easements

The act takes immediate effect but is contingent on the enactment of six related bills (Senate Bills 685-690) from the 103rd Legislature