MI SB0861

Establishes the children's trust fund as a charitable and educational endowment fund within the Department of Treasury with revenues from income tax checkoffs, vehicle registration fees, child abuse prevention fees, and playground equipment safety civil fines.

Authorizes the state treasurer to invest trust fund assets with the same authority as an investment fiduciary under the public employee retirement system investment act and requires compliance with the divestment from terror act.

Provides for annual disbursement of all contributions plus 4.25% of the 12-quarter rolling average of the fund from fiscal years 2015-2017.

Beginning October 1, 2017, increases the disbursement rate to up to 5% of the 12-quarter rolling average if the fund averages at least $23,500,000; otherwise maintains the 4.25% rate.

Requires the state treasurer to annually report to legislative appropriations committees on trust fund revenues, expenditures, interest, and earnings, including the impact of expanded investment options.