Sec. 63103e.
(1) The ferrous mineral surveillance fund is created within the state treasury.
(2) The state treasurer may receive money or other assets from any source for deposit into the ferrous mineral surveillance fund. The state treasurer shall direct the investment of the ferrous mineral surveillance fund. The state treasurer shall credit to the ferrous mineral surveillance fund interest and earnings from fund investments.
(3) Money in the ferrous mineral surveillance fund at the close of the fiscal year shall remain in the ferrous mineral surveillance fund and shall not lapse to the general fund.
(4) The department shall expend money from the ferrous mineral surveillance fund, upon appropriation, only for surveillance, monitoring, administration, and enforcement under this part and for computing the surveillance fee under section 63103d.
History: Add. 1997, Act 149, Imd. Eff. Dec. 2, 1997 ;-- Am. 2011, Act 214, Imd. Eff. Nov. 8, 2011 Popular Name: Act 451Popular Name: NREPA
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