MI SB1002

Creates the Michigan civilian conservation corps endowment fund within the state treasury to receive money and assets from any source.

Grants the state treasurer investment authority equivalent to that of an investment fiduciary under the public employee retirement system investment act (1965 PA 314).

Requires the state treasurer to credit all interest and earnings from endowment fund investments back to the endowment fund.

Mandates that endowment fund money remaining at fiscal year-end shall not lapse to the general fund but remain in the endowment.

Limits the department to expending only the interest and earnings of the endowment fund for corps operations, effective September 27, 2018.