Michigan § 333.26336 - Disposition and use of monetary consideration; appropriation; expenditures; retention of unexpended money in pharmaceutical products fund; administration of fund by community public health agency.

The monetary consideration received under this act for the conveyance of the assets shall be deposited in the pharmaceutical products fund and, except as otherwise provided in this section, shall be used solely for the purchase of vaccines and other biologic products necessary to promote and protect the public health.

The money in the pharmaceutical products fund not needed to fund the appropriations made by Act No. 364 of the Public Acts of 1996 for the 1996-97 state fiscal year is appropriated for the following purposes and in the following order of priority:

Payment of fees associated with the services provided by a selling agent in marketing the assets, if such services are retained and used by the commission.

For payment of accrued sick and annual leave time to employees of the institute upon separation of employment from the state if current fiscal year appropriations available for that purpose are insufficient.

For reimbursement of the state for payouts for accrued sick and annual leave time from current fiscal year appropriations available for that purpose to employees of the institute upon separation of employment from the state.

To reimburse the state employees' retirement system for the actuarial cost of providing an optional early-out program for employees of the institute whose combined age and service credit equal 70 or greater, regardless of age, on the date of separation of employment from the state.

Separation costs including, but not limited to, expenses incurred in moving non-institute employee work stations and other equipment in to other state office locations and converting the facilities of the institute to private operations.

To pay other costs related to the negotiation and closing of the agreement for the conveyance of the assets, including title insurance and any opinions or reports required by the state administrative board, and the fees of attorneys and consultants used to develop and complete the conveyance.

There is appropriated an additional $2,000,000.00 for the institute for the fiscal year ending September 30, 1997 for the construction of phase 1-B of the renovations to building 16 for regulatory compliance purposes. Of the $2,000,000.00, $630,000.00 is appropriated from other federal revenues and $1,370,000.00 is appropriated from biologic product sales and other revenue.

The amounts that can be expended for the purposes prescribed in subsection (2)(a), (e), and (f) shall not exceed $2,500,000.00. The amounts that can be expended for the purposes prescribed in subsection (2)(b), (c), and (d) shall not exceed $2,500,000.00.

All unexpended money of the pharmaceutical products fund shall be retained in the pharmaceutical products fund at the end of the fiscal year in which the conveyance of the assets is completed. After the conveyance is completed, the community public health agency within the department of community health shall administer the pharmaceutical products fund.