HEALTH ENDOWMENT FUND CORP. S.B. 846 (S-1):
SUMMARY OF BILL
REPORTED FROM COMMITTEE
Senate Bill 846 (Substitute S-1 as reported)
CONTENT
The bill would amend the Nonprofit Health Care Corporation Reform Act to prohibit compensation for an employee of the board of a health endowment fund corporation from exceeding the compensation set for the Senate Majority Leader or the Speaker of the House of Representatives, whichever was less.
The Act requires the board of a health endowment fund corporation incorporated under Part 61 (Health Endowment Fund Corporations) of the Act to appoint an executive director to serve as the chief executive officer of the fund. The executive director may employ staff and hire consultants as necessary with the approval of the board. The board must determine compensation for the executive director and staff employed under these provisions and must approve contracts under these provisions.
The bill would prohibit compensation for an employee of the board from exceeding the compensation set for the Senate Majority Leader or the Speaker of the House of Representatives, whichever was less, as determined by the State Officers Compensation Commission.
MCL 550.1654 Legislative Analyst: Drew Krogulecki
FISCAL IMPACT
The bill would have no fiscal impact on State or local government.
Date Completed: 12-7-18 Fiscal Analyst: Elizabeth Raczkowski
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.