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MI SB0544
Bill
Status
Engrossed
10/28/2015
Primary Sponsor
Marty Knollenberg
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AI Summary
- Amends the Fostering Futures Scholarship Trust Fund Act to authorize the department to accept federal funds, gifts, grants, bequests, and donations from individuals, private organizations, and foundations for the trust fund purposes
- Clarifies that acceptance of federal money does not commit state funds or obligate the legislature to continue funding the purposes for which federal money is provided
- Authorizes the department to plan, manage, or conduct fundraising campaigns to solicit gifts, bequests, grants, donations of money or property, and pledges
- Requires the department to credit all amounts appropriated for the trust fund under section 435 of the Income Tax Act of 1967 to the trust fund
- Requires all money received through these sources to be transmitted to the state treasurer for deposit in the trust fund, and is contingent on Senate Bill 543 being enacted into law
Legislative Description
Individual income tax; other; credit income tax check-off contributions to the fostering futures scholarship trust fund; require. Amends sec. 9 of 2008 PA 525 (MCL 722.1029). TIE BAR WITH: SB 0543'15
Individual income tax: other
Last Action
Re-referred To Committee On Tax Policy
9/22/2016
Committee Referrals
Tax Policy10/28/2015
Finance10/6/2015
Full Bill Text
No bill text available