HOUSE BILL NO. 4146
February 06, 2019, Introduced by Reps.
Whiteford, LaGrand, Rendon, Neeley, Filler, Wozniak, Calley, Guerra, Elder,
Brann, Hauck and Love and referred to the Committee on Judiciary.
A bill to amend 1939 PA 280, entitled
"The social welfare act,"
(MCL 400.1 to 400.119b) by adding section 117i.
the people of the state of michigan enact:
Sec. 117i. (1) The raise the age fund is created within the state treasury.
(2) 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.
(3) Money in the fund at the close of the fiscal year shall remain in the fund and shall not lapse to the general fund.
(4) The department shall be the administrator of the fund for auditing purposes.