HB 4957
State finance: bonds; tobacco settlement funds; modify. Amends sec. 7 of 2000 PA 489 (MCL 12.257).
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill modifies the Michigan Trust Fund Act to clarify the sources of funding for the 21st Century Jobs Trust Fund. It specifies that the fund can be supported by donations, proceeds from the sale of tobacco settlement revenues, and appropriations from the state’s strategic fund. The bill also outlines specific amounts of tobacco settlement revenue that must be deposited into the trust fund each year, with these amounts increasing over time.
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