SENATE BILL No. 196

 

 

February 28, 2017, Introduced by Senators KNOLLENBERG, SCHUITMAKER, MACGREGOR, EMMONS, HERTEL, GREGORY, O'BRIEN, SCHMIDT, MARLEAU 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. 197                                    

 

          of the 99th Legislature is enacted into law.