MI HB6138

Creates the Licensed Social Workers Student Loan Repayment Fund within the state treasury.

Authorizes the state treasurer to receive money and assets from any source for deposit into the fund and to direct fund investments, with interest and earnings credited back to the fund.

Requires fund balances to carry forward at the close of each fiscal year rather than lapsing to the general fund.

Designates the department as fund administrator for auditing purposes and authorizes expenditures only for grants under the licensed social workers student loan repayment act upon appropriation.

Takes effect only if Senate Bill No. ____ or House Bill No. 6137 is enacted into law.