MI SB0186

Secretary of state shall develop and issue fund-raising or collector vehicle registration plates by October 1, 2015 for the Detroit Red Wings, Detroit Tigers, Detroit Lions, Detroit Pistons, and Michigan International Speedway, each bearing the organization's submitted logo design.

Creates five separate funds within state treasury (Detroit Red Wings Fund, Detroit Tigers Fund, Detroit Lions Fund, Detroit Pistons Fund, and MIS Cares Fund) to receive and manage donation money from plate sales, with funds remaining in accounts and not lapsing to the general fund.

State treasurer shall transfer donation money from plate sales to respective funds, direct fund investments, credit interest and earnings to funds, and disburse funds quarterly to designated organizations (Red Wings Foundation, Tigers Foundation, Lions Charities, Come Together Foundation, and MIS Cares).

All money disbursed from the funds shall be distributed to eligible nonprofit organizations exempt from taxation under Internal Revenue Code section 501(c)(3).

State treasurer serves as fund administrator for auditing purposes; bill takes effect 90 days after enactment.