June 7, 2018, Introduced by Reps. Rendon and Chang and referred to the Committee on Appropriations.
A bill to establish a licensed social workers student loan
repayment fund and to provide for its administration; and to
prescribe certain powers and duties of certain state officers,
agencies, and departments.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 1. This act shall be known and may be cited as the
"licensed social workers student loan repayment fund act".
Sec. 2. As used in this act, "department" means that term as
defined in section 2 of the licensed social workers student loan
repayment act.
Sec. 3. The licensed social workers student loan repayment
fund is created within the state treasury and is subject to all of
the following:
(a) The state treasurer may receive money or other assets from
any source for deposit into the fund. The state treasurer shall
direct the investment of the fund. The state treasurer shall credit
to the fund interest and earnings from fund investments.
(b) Money in the fund at the close of the fiscal year shall
remain in the fund and shall not lapse to the general fund.
(c) The department shall be the administrator of the fund for
auditing purposes.
(d) The department shall expend money from the fund, upon
appropriation, only to award grants as provided for in the licensed
social workers student loan repayment act.
Enacting section 1. This act does not take effect unless
Senate Bill No.____ or House Bill No. 6137 (request no. 06182'18) of
the 99th Legislature is enacted into law.