MI HB5018

Creates the Michigan Promotion Fund as a separate fund in the state treasury, administered by the state treasurer, to promote economic development and job creation through tourism promotion

Requires the state treasurer to credit all amounts designated for the Michigan Promotion Fund, including revenues from the use tax act, and to invest fund money while crediting interest and earnings back to the fund

Allows the Michigan Promotion Fund to borrow money and issue notes through December 31, 2010, for purposes including promoting tourism-related economic development and job creation

Appropriates $9,500,000 from the Michigan Promotion Fund for the fiscal year ending September 30, 2010

Makes the act effective only if Senate Bill No. 619 of the 95th Legislature is enacted into law