Sec. 43704.
(1) The state treasurer shall direct the investment of the trust fund. The state treasurer shall have the same authority to invest the assets of the trust fund as is granted to an investment fiduciary under the public employee retirement system investment act, 1965 PA 314, MCL 38.1132 to 38.1140l.
(2) The department shall annually prepare a report containing an accounting of revenues and expenditures from the trust fund. This report shall identify the interest and earnings of the trust fund from the previous year, the investment performance of the trust fund during the previous year, and the total amount of appropriations from the trust fund during the previous year. This report shall be provided to the senate and house of representatives appropriations committees and the standing committees of the senate and house of representatives with jurisdiction over issues pertaining to natural resources and the environment.
History: Add. 1995, Act 57, Imd. Eff. May 24, 1995 ;-- Am. 2001, Act 50, Imd. Eff. July 23, 2001 ;-- Am. 2002, Act 56, Eff. Sept. 21, 2002 Popular Name: Act 451Popular Name: NREPA
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