MI HB5992

Establishes a "lifelong learning account program" within the Department of Talent and Economic Development to allow employees and employers to jointly create educational savings accounts for approved training and education.

Defines a lifelong learning account as a joint savings account established between an employee and employer to support education and training aligned with an approved career development plan.

Requires the Michigan Talent Investment Agency to implement and operate the program, including establishing policies for fund management, approving career development plans, and setting education and training standards.

Authorizes the agency to partner with financial institutions and public/private organizations to provide program management, financial literacy services, and career counseling to low-wage workers seeking high-skilled, high-wage jobs.

Directs the agency to market the program across geographic areas and industry sectors, with particular focus on low-wage workers and their employers, and to coordinate services with Michigan's existing one-stop career service centers.