Sec. 25. If at the end of a fiscal year a surplus of unencumbered funds remains after providing for the operating expenses of an authority, the authority may pay that surplus into the general funds of the state and of its constituent units in the same proportion which the appropriations made by each to the authority bear to each other.
Mich. Comp. Laws § 120.125
Surplus of unencumbered funds; disposition
Known as the Hertel-Law
The act spans §§ 120.101 to 120.130 (31 sections).
1978, Act 639, Imd
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.