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2001 Senate Bill 463

Public Act 112 of 2001

Introduced by Sen. Harry Gast (R) on May 9, 2001 To dip into the state counter-cyclical budget and economic stabilization fund ("rainy day fund") in order to make appropriations at previously anticipated levels, despite a decline in tax revenue compared with amounts which had been projected earlier in the year. The bill authorizes expenditures of $77 million from the fund in the current fiscal year, and up to $155 million in FY 2001-2002.   Official Text and Analysis.
Referred to the Senate Appropriations Committee on May 9, 2001
Substitute offered in the Senate on June 26, 2001 Which reflects changes adopted following committee testimony and discussion.
The substitute passed by voice vote in the Senate on June 26, 2001
Amendment offered by Sen. Kenneth DeBeaussaert (D) on June 26, 2001 To withdraw an additional $175 million from the "rainy day fund" to maintain previously adopted school funding increases.
The amendment failed 15 to 20 in the Senate on June 26, 2001
Passed 35 to 0 in the Senate on June 26, 2001 (same description)
To dip into the state counter-cyclical budget and economic stabilization fund ("rainy day fund") in order to make appropriations at previously anticipated levels, despite a decline in tax revenue compared with amounts which had been projected earlier in the year. The bill authorizes expenditures of $77 million from the fund in the current fiscal year, and up to $155 million in FY 2001-2002.
Received in the Senate on June 26, 2001
Amendment offered by Rep. Jack Minore (D) on July 10, 2001 To cut the $155 million "rainy day fund" expenditure for FY 2001-2002 from the bill.
The amendment failed 47 to 57 in the House on July 10, 2001
Amendment offered in the House on July 10, 2001 To authorize only up to $50 million in "rainy day fund" withdrawals.
The amendment passed by voice vote in the House on July 10, 2001
Amendment offered by Rep. Jack Minore (D) on July 10, 2001 To limit "rainy day fund" expenditures for the current year, by deleting a section of the bill which provides a process for making such expenditures.
The amendment failed 45 to 57 in the House on July 10, 2001
Amendment offered by Rep. Michael Switalski (D) on July 10, 2001 To withdraw an additional $119 million from the "rainy day fund." The money would be used to maintain previously adopted funding for various "categorical" education grants, which had been reduced in order to allow continued funding of basic per-pupil school aid grant increases over the next three years, and for appropriations for certain state health programs.
The amendment failed 47 to 56 in the House on July 10, 2001
Passed 34 to 0 in the Senate on July 11, 2001 (same description)
To concur with the House-passed version of the bill.
Received in the House on July 11, 2001 To concur with the House-passed version of the bill.
Passed 76 to 27 in the House on July 11, 2001 (same description)
To dip into the state counter-cyclical budget and economic stabilization fund ("rainy day fund") in order to make appropriations at previously anticipated levels, despite a decline in tax revenue compared with amounts which had been projected earlier in the year. The bill authorizes expenditures of $77 million from the fund in the current fiscal year, and up to $155 million in FY 2001-2002.
Signed by Gov. John Engler on July 27, 2001

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