Michigan Compiled Laws
Article 3 - (18.1301...18.1397)
Section 18.1355 - Adjustment of Transfer Into or Out of Fund; Condition; Adjustment of Appropriation From Fund.

Sec. 355.
(1) The transfer into or out of the fund as provided in section 352 for each fiscal year beginning after September 30, 1978, may be adjusted in light of revision in the annual growth rate for the calendar year upon which that transfer was made. If an adjustment is made, it shall be implemented by an appropriation bill enacted into law.
(2) For a transfer into the fund, the adjustment, if made, shall be directly proportional to an increase or decrease in the annual growth rate.
(3) The basis for an adjustment under this section shall be a change in the personal income level for that calendar year as determined by the bureau of economic analysis of the United States Department of Commerce or its successor in the last report it makes before April 30 of the fiscal year in which that calendar year ended. The adjustment, if made, shall be effective on June 1 of the fiscal year in which the transfer is made.
History: 1984, Act 431, Eff. Mar. 29, 1985 ;-- Am. 1988, Act 504, Imd. Eff. Dec. 29, 1988 ;-- Am. 1991, Act 72, Imd. Eff. July 11, 1991 ;-- Am. 1999, Act 8, Imd. Eff. Mar. 22, 1999 ;-- Am. 2018, Act 613, Eff. Mar. 29, 2019 Popular Name: Act 431Popular Name: DMBPopular Name: Rainy Day Fund

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 18 - Department of Management and Budget

Act 431 of 1984 - The Management and Budget Act (18.1101 - 18.1594)

Article 3 - (18.1301...18.1397)

Section 18.1301 - Meanings of Words and Phrases.

Section 18.1302 - Definitions; A.

Section 18.1303 - Definitions; D to P.

Section 18.1304 - Definitions; S.

Section 18.1305 - Definitions; T, U.

Section 18.1321 - Office of State Budget Director; Creation; Appointment of Director; Exemption From Classified Service; Term; Director as Director of Department.

Section 18.1323 - Executive Budget Function; Executive Budget Proposal; Limitation on Proposed Appropriations.

Section 18.1331 - Information; Assistance.

Section 18.1332 - Comprehensive State Information Relative to Programs, Financing, Priorities, Management, and Performance; Investigations; Examinations.

Section 18.1333 - Witnesses; Oaths; Examinations; Compelling Production of Records; Enforcement of Orders and Subpoenas.

Section 18.1341 - Executive State Budget; Evaluations; Review.

Section 18.1342 - Economic Analysis, Revenue Estimating, and Monitoring Activity.

Section 18.1343 - Statistical Studies; Population Estimates and Projections.

Section 18.1344 - Annual Proposals; Review of Auditor General's Audits; State Debt; Costs of Capital Outlay Projects.

Section 18.1345 - State Mandated Programs; Costs; Recommendations.

Section 18.1347 - Hearings; Attendance.

Section 18.1348 - Executive Budget Submitted to Legislature; Recommendations for Expenditures; Additional and New Sources of Revenue; Considerations in Balancing Budget of Each State Operating Fund.

Section 18.1349 - Proportion of Total State Spending From State Sources Paid to Units of Local Government; Compliance of Budgets With State Constitution.

Section 18.1350 - State Spending Paid to Units of Local Government; Refunds or Other Repayments.

Section 18.1350a - Additional Definitions.

Section 18.1350b - Prohibited Taxes; Revenue Limit; Report.

Section 18.1350c - Prohibited Expenditures; Amount Withdrawn From Countercyclical Budget and Economic Stabilization Fund Considered Surplus.

Section 18.1350d - Revenues Required to Be Refunded; Procedures.

Section 18.1350e - Report.

Section 18.1351 - Countercyclical Budget and Economic Stabilization Fund; Creation; Purpose; Definitions.

Section 18.1352 - Transfer of Funds Based on Annual Growth Rate; Formula.

Section 18.1353 - Repealed. 2018, Act 613, Eff. Mar. 29, 2019.

Section 18.1353a, 18.1353b - Repealed. 1999, Act 8, Imd. Eff. Mar. 22, 1999.

Section 18.1353c - Repealed. 2007, Act 145, Imd. Eff. Dec. 1, 2007.

Section 18.1353d - Repealed. 1999, Act 8, Imd. Eff. Mar. 22, 1999.

Section 18.1353e, 18.1353f - Repealed. 2007, Act 145, Imd. Eff. Dec. 1, 2007.

Section 18.1354 - Executive Budget and Appropriations Bill; Estimate of Transfer Into or Out of Fund; Installments.

Section 18.1354a - Repealed. 1999, Act 8, Imd. Eff. Mar. 22, 1999.

Section 18.1355 - Adjustment of Transfer Into or Out of Fund; Condition; Adjustment of Appropriation From Fund.

Section 18.1356 - Balance in Fund; Rebate of Excess.

Section 18.1357 - Shortfall in State General Fund - General Purpose Revenue.

Section 18.1358 - Emergency Appropriation From Fund; Conditions; Additional Transfer.

Section 18.1359 - Combining Amounts in Fund and in State Treasury for Purposes of Cash Management; Investment Earnings; Separate Accounting; Crediting Transfer to Fund.

Section 18.1360 - Michigan Infrastructure Fund; Creation; Deposit; Investment; Interest and Earnings; Money at Close of Fiscal Year; Administration of Fund for Auditing Purposes; Expenditure.

Section 18.1360a - Expenditure of Money; Limitation.

Section 18.1361 - Submission of Tax Credit, Deduction, and Expenditure Report.

Section 18.1362, 18.1362a - Repealed. 1999, Act 8, Imd. Eff. Mar. 22, 1999.

Section 18.1363 - Transmittal of Budget to Members of Legislature and Fiscal Agencies; Line-Item Appropriation Detail; Computer Software Application; 2-Year Budget Report; Required Contents; Strategic Plan; 5 Years; Contents.

Section 18.1365 - Appropriation Bills; Passed and Presented on or Before July 1.

Section 18.1366 - Financing and Maintenance of State Agency Subject to Act.

Section 18.1367 - Transmittal of Executive Budget Bills to Members of Legislature and Fiscal Agencies; Contents of Executive Budget Bill and Enacted Budget Bill.

Section 18.1367a - “Conference” and “Principal” Defined.

Section 18.1367b - Revenue Estimating Conference; Principals; Forecasts.

Section 18.1367c - Requests by Conference for Assistance and Data.

Section 18.1367d - Conference Procedures.

Section 18.1367e - Publication of Economic and Revenue Forecasts.

Section 18.1367f - Convening Conference Upon Request of Principal.

Section 18.1367g - Repealed. 1991, Act 72, Imd. Eff. July 11, 1991.

Section 18.1368 - Monitoring Passage of Budget Bills; Assisting Governor in Explanation of Recommendations; Revisions to Recommendations and Estimates; Veto Recommendations.

Section 18.1369 - Item or Items Vetoed by Governor; Funding From Other Source.

Section 18.1371 - Expenditure or Obligation Exceeding Gross Appropriation Level Prohibited; Responsibility for Exceeding Appropriation; Report of Violation and Statement of Action Taken; Division of Appropriation Into Allotments; Spending Plan; Revie...

Section 18.1372 - Adjustment of Allotments; Withholding Payment; Limitation on Payments; Open-End Appropriations; Reduction or Adjustment of Allotments; Report of Action Taken; Directives for Allotment of Appropriations.

Section 18.1373 - Classification of Line Item in Spending Categories; Spending Plan; Submission to State Budget Office; Review; Approval; Resubmission of Revised Spending Plan; Submission to Legislative Committees; Posting on Public Website; Adjustme...

Section 18.1381 - New or Expanded Programs.

Section 18.1382 - Repealed. 1999, Act 8, Imd. Eff. Mar. 22, 1999.

Section 18.1384 - Application for Federal Financial Assistance; Notification; Form; Contents; Notice of Award, Rejection, Revision, or Deferment of Application; Report of Availability and Proposed Allocation of Grant Funds; Condition to Commitment of...

Section 18.1385 - Procurement, Development, and Maintenance of Information Technology Services for Department of Health and Human Services; Require.

Section 18.1386 - Monthly Financial Reports; Preparation; Transmittal; Contents.

Section 18.1388 - Monitoring and Projecting State Spending Paid to Units of Local Government; Remedial Actions.

Section 18.1389 - Withholding of Payment to Municipality; Purpose; Report; “Municipality” Defined.

Section 18.1391 - Actual Revenues Falling Below Revenue Estimates; Review of Appropriations; Recommending Reduction of Expenditures; Review of Recommendations; Order Containing Reductions; Notice; Meeting; Approval or Disapproval of Order; Implementa...

Section 18.1392 - Reduction of Line Item Appropriations in Subsequent Legislation.

Section 18.1393 - Administrative Transfers of Appropriations Within Department; Purpose; Notice; Prohibited Adjustments; Approval or Disapproval.

Section 18.1395 - Financing From Federal, State Restricted, Local, or Private Funding; Financing by Multiple Fund Sources; Spending of State Matching Money; Reductions; Notice; Adjustments; Corrective Action; Prohibited Transfer.

Section 18.1396 - Paying or Recording Certain Expenditures From Appropriations; Notice of Certain Settlements or Consent Judgments; Report.

Section 18.1397 - Repealed. 2018, Act 613, Eff. Mar. 29, 2019.