MI HB5475

Establishes the "Teacher Recruitment and Retention Scholarship Act" administered by the Michigan Department of Education to provide postgraduate scholarships for teachers in at-risk schools.

Provides scholarships of up to $1,000 per semester for eligible costs (tuition, fees, room, board, books, supplies, transportation) at public or independent nonprofit colleges and universities offering master's degrees or higher.

Requires scholarship recipients to be full-time teachers at schools where at least 50% of students qualify for federal free or reduced-price lunch programs and to commit to 4 years of continuous eligible employment at those schools or within the same school district.

Recipients who fail to complete the 4-year employment commitment must repay all scholarship funds plus interest and collection fees, with proportionate repayment options available and potential forgiveness for death, disability, layoff, or other good cause.

Creates the Teacher Recruitment and Retention Scholarship Fund within the state treasury to receive appropriations, repayments from recipients, and investment earnings for distribution to scholarship recipients.