This act shall be known and may be cited as the "children's miracle network fund act".

    As used in this act:

    (a) "Department" means the department of community health.

    (b) "Fund" means the children's miracle network fund created in section 5.

    (1) The children's miracle network fund is created in the department to provide funds for donation to the children's miracle network to support the children's miracle network hospitals located in this state in providing life-saving pediatric care, education, and research.

    (2) The state treasurer shall credit to the fund all amounts appropriated for this purpose under section 435 of the income tax act of 1967, 1967 PA 281, MCL 206.435, and money from any other source for deposit into the fund.

    (3) The state treasurer shall direct the investment of the fund. The fund shall consist of the money credited to the fund pursuant to section 435 of the income tax act of 1967, 1967 PA 281, MCL 206.435, any interest and earnings accruing from the saving and investment of that money, and money from any other source.

    (4) Money in the fund at the close of the year shall remain in the fund and shall not lapse to the general fund.

    The money, interest, and earnings of the fund shall be expended solely for donations to the children's miracle network to support the children's miracle network hospitals located in this state in providing life-saving pediatric care, education, and research. The money, interest, and earnings of the fund shall be expended among the children's miracle network hospitals in this state in the same proportion that each children's miracle network hospital's annual fund-raising revenue is to the total annual amount of fund-raising revenue of all children's miracle network hospitals in this state as reported to the national children's miracle network organization. Each children's miracle network hospital in this state shall annually report to the department its fund-raising revenue on a form prescribed by the department.

    The money in the fund that is available for distribution shall be appropriated each year. Money granted or received as a gift or donation to the fund is available for distribution upon appropriation.