MI HB5740

Creates the Kiwanis Fund in the Michigan Department of Treasury to provide donations to Kiwanis clubs and organizations in Michigan for improving children's lives.

Fund receives money appropriated under Section 435 of the Income Tax Act of 1967, plus interest, earnings, and other gifts or donations received.

State Treasurer directs investment of the fund and money is available for distribution to each county from which a contribution, gift, or donation was received.

Fund money may be appropriated annually as matching funds for federal grants serving the stated purposes, with any unappropriated balance remaining in the fund rather than lapsing to the general fund.

Act takes effect June 28, 2018 and is conditioned on enactment of House Bill No. 5739.