MI HB5835

Amends the state treasurer's duty to maintain accounts with banks and depositories holding state money by requiring itemization of each account in the treasurer's regular books.

Expands the definition of "bank or other depository" to include the community bank of Michigan established under the bank of Michigan act.

Requires the state treasurer to document all interest owed to the state from banks in the regular books, including the account description and the time period in which interest accrued.

Takes effect 90 days after enactment, contingent upon passage of Senate Bill No. ____ or House Bill No. ____ (request no. 03498'15) of the 98th Legislature.