2001 Senate Bill 801 / 2002 Public Act 57

Introduced in the Senate

Oct. 24, 2001

Introduced by Sen. Don Koivisto (D-38)

To authorize the Department of Treasury to invest money held in the Civilian Conservation Corps Endowment Fund in stocks.

Referred to the Committee on Appropriations

Nov. 7, 2001

Passed in the Senate 34 to 0 (details)

To allow funds in the Civilian Conservation Corps Endowment Fund to be invested in stocks. The bill is part of a package that would allow state restricted funds to invest in the same instruments allowed for state pension funds. This would require a vote of the people to change the Constitution, which currently prohibits this. The bill is tie-barred to Senate Joint Resolution T, which would place the question on the August 2002 statewide primary election ballot.

Received in the House

Nov. 7, 2001

Feb. 20, 2002

Substitute offered

To replace the previous version of the bill with a version recommended by the committee which reported it. The substitute incorporates changes resulting from committee testimony and deliberation. These changes do not affect the substance of the bill as previously described.

The substitute passed by voice vote

Passed in the House 100 to 0 (details)

Received in the Senate

Feb. 20, 2002

To allow funds in the Civilian Conservation Corps Endowment Fund to be invested in stocks. The bill is part of a package that would allow state restricted funds to invest in the same instruments allowed for state pension funds. This would require a vote of the people to change the Constitution, which currently prohibits this. The bill is tie-barred to Senate Joint Resolution T, which would place the question on the August 2002 statewide primary election ballot.

Feb. 26, 2002

Passed in the Senate 37 to 0 (details)

To concur with the House-passed version of the bill.

Received in the House

Feb. 26, 2002

Signed by Gov. John Engler

March 12, 2002