Michigan Compiled Laws
451-1994-III-2-4-TAX-INCENTIVES-511 - Part 511 Commercial Forests (324.51101...324.51120)
Section 324.51112 - Commercial Forest Fund.

Sec. 51112.
(1) The commercial forest fund is created within the state treasury.
(2) The state treasurer shall deposit the money collected from the following sources into the fund:
(a) The application fee and forest management plan fee pursuant to section 51103.
(b) The withdrawal application fee pursuant to section 51108.
(c) The fee described in section 51116(1)(a).
(d) An amount equal to 10 cents for each acre of land enrolled under this part as certified by the department, to be appropriated each fiscal year from the general fund.
(e) Any restitution ordered by a court payable to this state for a violation of this part.
(3) In addition to the revenues described in subsection (2), the state treasurer may receive money or other assets from any source for deposit into the fund. The state treasurer shall direct the investment of the fund. The state treasurer shall credit to the fund interest and earnings from fund investments.
(4) Money in the fund appropriated from the general fund shall remain in the fund at the close of the fiscal year and shall not lapse to the general fund.
(5) The department shall expend the money from the fund, upon appropriation, for enforcement, administration, and monitoring of compliance with part 512 and this part and rules promulgated under this part.
History: Add. 1995, Act 57, Imd. Eff. May 24, 1995 ;-- Am. 2006, Act 383, Imd. Eff. Sept. 27, 2006 Popular Name: Act 451Popular Name: NREPA

Structure Michigan Compiled Laws