MI HB5573

Establishes the 21st Century Jobs Trust Fund in the Department of Treasury to receive donations and tobacco settlement revenues under specified conditions.

Directs the State Treasurer to invest the fund's assets in authorized investments including state/federal obligations and requires compliance with the Divestment from Terror Act.

Deposits interest and earnings from the fund into the general fund; transfers $42,000,000 to the general fund for fiscal year 2009 only.

Allocates $75,000,000 annually from tobacco settlement revenue to the 21st Century Jobs Trust Fund for fiscal years 2008-2015, and $72,000,000 for fiscal year 2016.

Directs $17,500,000 annually from tobacco settlement revenue to the Countercyclical Budget and Economic Stabilization Fund for fiscal years 2015-2035.