MI HB5288

Authorizes community college district treasurers to invest debt retirement funds, building funds, and general funds in specified eligible instruments, subject to board of trustees resolution approval.

Permits investments in U.S. bonds, certificates of deposit, bankers' acceptances, commercial paper, mutual funds, repurchase agreements, and investment pools meeting specific criteria.

Allows deposit of funds through intermediary financial institutions into insured depository institutions or credit unions, provided the intermediary receives equivalent deposits from other customers on the same date.

Prohibits commingling of funds between different district accounts for investment purposes and requires all investment earnings to return to their originating fund.

Restricts all investments and deposits to financial institutions eligible to hold state surplus funds and requires compliance with the divestment from terror act.