October 6, 2015, Introduced by Senators KNOLLENBERG, MACGREGOR, SCHUITMAKER, O'BRIEN, MARLEAU, HERTEL and BIEDA and referred to the Committee on Finance.
A bill to amend 2008 PA 525, entitled
"Fostering futures scholarship trust fund act,"
by amending section 9 (MCL 722.1029), as amended by 2014 PA 530.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 9. (1) The department may do any of the following:
(a) Accept federal money granted by congress or executive
order for the purposes of this act as well as gifts, grants,
bequests, and donations from individuals, private organizations, or
foundations. The acceptance and use of federal money does not
commit state money and does not place an obligation upon the
legislature to continue the purposes for which the federal money is
made available.
(b) Plan, manage, or conduct a campaign to solicit gifts,
bequests, grants, or donations of money or property, or pledges of
gifts, bequests, grants, or donations.
(2) The department shall credit to the trust fund all amounts
appropriated for the trust fund under section 435 of the income tax
act of 1967, 1967 PA 281, MCL 206.435.
(3) (2)
Money received in the manner
described in subsection
subsections (1) and (2) shall be transmitted to the state treasurer
for deposit in the trust fund.
Enacting section 1. This amendatory act does not take effect
unless Senate Bill No. 543
of the 98th Legislature is enacted into law.