MI HB5476

Establishes the Student Teachers Stipend Program to be administered by the Department of Education, providing financial support to eligible student teachers.

Defines "at-risk school" as a public or nonpublic elementary or secondary school where at least 50% of students meet income eligibility criteria for free or reduced-priced lunch in the preceding state fiscal year.

Eligible student teachers must be Michigan legal residents, accepted to serve as student teachers in at-risk schools, meet student teaching requirements under Michigan school code, and submit applications by July 1.

Department shall award stipends not to exceed $1,000 per academic year, with authority to adjust amounts pro rata based on available fund money and appropriations.

Creates a separate Student Teachers Stipend Fund in the state treasury administered by the Department of Treasury, which may accept money from any source and shall invest fund earnings credited back to the fund.