May 24, 2006, Introduced by Rep. Drolet and referred to the Committee on Government Operations.
A bill to amend 2000 PA 489, entitled
"Michigan trust fund act,"
by amending sections 2 and 9 (MCL 12.252 and 12.259), section 2 as
amended and section 9 as added by 2005 PA 232; and to repeal acts
and parts of acts.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 2. As used in this act:
(a) "Medicaid benefits trust fund" means the Michigan medicaid
benefits trust fund established in section 5.
(b) "Medicaid program" means a program for medical assistance
established under title XIX of the social security act, chapter
531, 49 Stat. 620, 42 USC 1396 to 1396f, 1396g-1 to 1396r-6, and
1396r-8 to 1396v.
(c) "Medicaid special financing payments" means the medicaid
special adjustor payments each year authorized in the department of
community health appropriations act.
(d) "Michigan merit award trust fund" means the Michigan merit
award trust fund established in section 9.
(e)
"Residual tobacco settlement revenue" means any residual
interests,
as defined by the Michigan tobacco settlement finance
authority
act, that are received by this state.
(e) (f)
"Tobacco settlement revenue" means money received
by
this state that is attributable to the master settlement agreement
incorporated into a consent decree and final judgment entered into
on December 7, 1998 in Kelly Ex Rel. Michigan v Philip Morris
Incorporated, et al., Ingham county circuit court, docket no. 96-
84281CZ, including any rights to receive money attributable to the
master settlement agreement that has been sold by this state.
(g)
"21st century jobs trust fund" means the 21st century jobs
trust
fund established in section 7.
Sec. 9. (1) The Michigan merit award trust fund is established
in the department of treasury. The Michigan merit award trust fund
shall consist only of interest and earnings from Michigan merit
award trust fund investments, donations of money made to the trust
fund from any source, and any money allocated as provided by law.
(2) Money in the Michigan merit award trust fund at the close
of a fiscal year shall remain in the Michigan merit award trust
fund and shall not revert to the general fund.
(3) The state treasurer shall direct the investment of the
Michigan merit award trust fund.
(4) Except
as otherwise provided in section 7(5), each Each
fiscal
year, tobacco settlement revenue received by this state
that
is not considered a TSR as that term is defined under the
Michigan
tobacco settlement finance authority act shall be
allocated to the Michigan merit award trust fund.
Enacting section 1. Sections 7 and 8 of the Michigan trust
fund act, 2000 PA 489, MCL 12.257 and 12.258, are repealed.