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MI HB5748
Bill
Status
12/31/2016
Primary Sponsor
David Maturen
Click for details
AI Summary
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Establishes a minimum balance of $18,000,000.00 for the children with special needs fund, with no expenditures permitted if the balance falls below this threshold.
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Grants the state treasurer authority to invest the children with special needs fund assets using the same investment powers as fiduciaries under the public employee retirement system investment act (1965 PA 314).
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Requires the state treasurer to comply with the divestment from terror act (2008 PA 234) when making investments of the children with special needs fund.
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Takes effect 90 days after enactment into law.
Legislative Description
Health; funding; children with special needs fund; expand investment options. Amends secs. 5861 & 5863 of 1978 PA 368 (MCL 333.5861 & 333.5863).
State agencies (existing): treasury
Last Action
Assigned Pa 427'16 With Immediate Effect
12/31/2016