Michigan Compiled Laws
451-1994-II-1-SEWAGE-DISPOSAL-AND-WATERWORKS-SYSTEMS-53 - Part 53 Clean Water Assistance (324.5301...324.5317)
Section 324.5313c - State Revolving Administration Fund.

Sec. 5313c.
(1) The state revolving administration fund is created within the state treasury. The state treasurer may receive money or other assets for any source for deposit into the state revolving administration fund. The state treasurer shall direct the investment of the state revolving administration fund and credit to the fund interest and earnings from fund investments. Money in the state revolving administration fund at the end of the fiscal year remains in the fund and does not lapse to the general fund. The department is the administrator of the state revolving administration fund for auditing purposes.
(2) Not more than 0.25% of the interest charged on a loan issued under this part or part 54 may be deposited into the state revolving administration fund.
(3) The department shall expend money from the fund only for the reasonable costs of administering and conducting activities under this part and part 54.
History: Add. 2022, Act 132, Imd. Eff. June 30, 2022 Popular Name: Act 451Popular Name: NREPA

Structure Michigan Compiled Laws