Economic development: other; SOAR fund; eliminate. Amends sec. 2 of 2000 PA 489 (MCL 12.252) & repeals sec. 4 of 2000 PA 489 (MCL 12.254). TIE BAR WITH: SB 488'25
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Progress
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- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill eliminates the Strategic Outreach and Attraction Reserve Fund (SOAR fund) from the Michigan Trust Fund Act. It specifically repeals a section of the act that created this fund and defines several other trust funds within the act, including those related to Medicaid, opioids, and tobacco settlements. The bill’s implementation is contingent on the passage of Senate Bill 488.
Key provisions
- Repeals section 4 of 2000 PA 489 (MCL 12.254), which established the Strategic Outreach and Attraction Reserve Fund.
- Defines various trust funds within the Michigan Trust Fund Act, such as the Community District Education Trust Fund, Flint Settlement Trust Fund, and Local Government Reimbursement Fund.
- Clarifies the definition of Medicaid benefits and Medicaid special financing payments.
- Defines Tobacco Settlement Revenue as it relates to the Master Settlement Agreement.
- Lists other trust funds including the Michigan Merit Award Trust Fund, Michigan Opioid Healing and Recovery Fund, and the 21st Century Jobs Trust Fund.
Who is affected
- State government
- Entities receiving funds from trust funds
- Individuals receiving Medicaid benefits
Notable changes
- Eliminates the Strategic Outreach and Attraction Reserve Fund.
Bill text
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