(a) The state treasurer shall have the custody and charge of all moneys in the all Faiths chapel building fund, which chapel is located at the Lansing correctional facility. (b) On or before the 10th of each month, the director of accounts and reports shall transfer from the state general fund to the all Faiths chapel building fund interest earnings based on: (1) The average daily balance of moneys in the all Faiths chapel building fund for the preceding month; and (2) the net earnings rate for the pooled money investment portfolio for the preceding month.
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