MI HB4579

Establishes the "Student Teacher Stipend Act" to create a stipend program administered by the Michigan Finance Authority within the Department of Treasury for eligible student teachers.

Defines eligible student teachers as individuals enrolled in state-approved teacher preparation programs who observe classroom instruction or conduct supervised teaching in public schools for at least 3 hours per day.

Provides stipends of up to $40.00 per day for each day an eligible student teacher serves, with the authority able to adjust amounts based on available fund money and appropriations.

Creates a dedicated Student Teacher Stipend Fund in the state treasury to receive and distribute money for stipend payments, with fund balances carrying over to the next fiscal year rather than reverting to the general fund.

Requires the Michigan Finance Authority to report annually to legislative education committees on stipend recipients, public schools served, teacher preparation institutions, average payments, and other program effectiveness data.