Sec. 20.

(1) There is hereby created in the state treasury a low-level radioactive waste management fund that shall be administered by the authority. The legislature shall make appropriations from the fund as provided in part 137 and as necessary to assure that the authority is able to fully implement its powers and responsibilities.

(2) The authority may expend appropriations by the legislature from the low-level radioactive waste fund for purposes listed in section 19 and as are otherwise reasonably related to the full implementation of the powers and duties of the authority.

(3) The source of the revenue of the fund shall include revenue from the following sources:

(a) Funds provided by other states, if this state is a member of a compact and this state is the host state for the compact, including export fees, funds to be allocated to candidate site communities, and any other revenue.

(b) Rebates received from the United States department of energy.

(c) Funds received pursuant to section 4(c).

(d) Disposal fees and surcharges established by the authority under section 19.

(4) The assets of the low-level radioactive waste management fund shall be exempt from all taxation by this state or any of its political subdivisions.

(5) The assets of the low-level radioactive waste management fund shall be preserved, invested, and expended solely pursuant to and for the purposes set forth in this act and in part 137 and shall not be loaned or otherwise transferred or used by the state for any other purpose.

History: 1987, Act 204, Imd. Eff. Dec. 22, 1987 ;-- Am. 1994, Act 434, Imd. Eff. Jan. 6, 1995