MI HB4607

Establishes the 21st century jobs trust fund in the department of treasury, funded by donations, tobacco settlement revenues, and general fund appropriations.

Directs the state treasurer to invest fund assets in authorized state investments and obligations issued by U.S. entities, with earnings deposited into the general fund.

Requires $75,000,000 annually in non-TSR tobacco settlement revenue to be deposited into the fund from fiscal year 2008 through fiscal year 2016.

Beginning in fiscal year 2016-2017 and each year thereafter, redirects $75,000,000 annually of non-TSR tobacco settlement revenue to the Michigan transportation fund instead of the jobs trust fund.

Authorizes the state treasurer to transfer appropriated funds from the jobs trust fund to implement programs under chapters 8A, 8B, and 8C of the Michigan strategic fund act upon request from the fund board.