Sec. 17.
(1) One million dollars is appropriated from the general fund to the authority for the fiscal year ending September 30, 2006 for all of the following purposes:
(a) Payment of operating expenses of the authority.
(b) Funding any reserve requirements.
(2) Money appropriated under this section that is not expended before the end of the state fiscal year ending September 30, 2006 shall not revert to the general fund and may be retained and used by the authority for the purposes authorized by subsection (1).
History: 2005, Act 226, Imd. Eff. Nov. 21, 2005
Structure Michigan Compiled Laws
Act 226 of 2005 - Michigan Tobacco Settlement Finance Authority Act (129.261 - 129.279)
Section 129.261 - Short Title.
Section 129.262 - Legislative Findings and Declaration.
Section 129.263 - Definitions.
Section 129.265 - Authority; Duties; Administrative Functions.
Section 129.267 - Powers of Authority.
Section 129.269 - Obligations.
Section 129.271 - Duties of State Before Payment or Discharge of Bonds and Ancillary Facilities.
Section 129.272 - Effect of Bonds Issued Under Act.
Section 129.273 - Dissolution of Authority.
Section 129.274 - Construction of Act.
Section 129.275 - Availability of Funds.
Section 129.277 - Appropriation.