Amends Michigan law to ensure unspent funds in the local government reimbursement fund lapse to the general fund.

The bill amends Michigan's 2000 PA 489 to modify the local government reimbursement fund. It ensures that any unspent funds in the fund at the end of the fiscal year will lapse to the general fund. The fund, created in the state treasury, receives money from the use tax act and other sources. The state treasurer manages the fund, directing investments and crediting interest and earnings. The Department of Treasury administers the fund and compensates municipalities for revenue lost due to property tax exemptions.

Amends Michigan law to ensure unspent funds in the local government reimbursement fund lapse to the general fund.

The bill amends Michigan's 2000 PA 489 to modify the local government reimbursement fund. It ensures that any unspent funds in the fund at the end of the fiscal year will lapse to the general fund. The fund, created in the state treasury, receives money from the use tax act and other sources. The state treasurer manages the fund, directing investments and crediting interest and earnings. The Department of Treasury administers the fund and compensates municipalities for revenue lost due to property tax exemptions.