***** 324.1904 THIS SECTION IS AMENDED EFFECTIVE IF THE CONDITION IN ENACTING SECTION 3 OF ACT 597 OF 2018 IS MET: See 324.1904.amended *****
Sec. 1904.
The amount accumulated in the trust fund shall not exceed $500,000,000.00, exclusive of interest and earnings and amounts authorized for expenditure under this part. Any amount of money that would be a part of the trust fund but for the limitation stated in this section shall be deposited in the Michigan state parks endowment fund created in section 74119, until the Michigan state parks endowment fund reaches an accumulated principal of $800,000,000.00. After the Michigan state parks endowment fund reaches an accumulated principal of $800,000,000.00, any money that would be part of the Michigan state parks endowment fund but for this limitation shall be distributed as provided by law.
History: Add. 1995, Act 60, Imd. Eff. May 24, 1995 ;-- Am. 2002, Act 52, Eff. Sept. 21, 2002 Popular Name: Act 451Popular Name: NREPA
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