MI SB1105

Establishes the "Student Teacher Stipend Act" creating a stipend program administered by the Michigan Finance Authority within the Department of Treasury for eligible student teachers.

Provides maximum stipends of $9,600 total for the period an individual serves as a student teacher, with amounts subject to adjustment based on available funding.

Requires student teachers to be enrolled in state-approved teacher preparation institutions, studying in approved programs, and observing or teaching in public schools at least 3 hours per day to qualify.

Creates the Student Teacher Stipend Fund as a separate state treasury fund that accepts money from any source except the school aid fund, with unspent money carried over annually rather than reverting to the general fund.

Requires the Michigan Finance Authority to report annually before February 1 to legislative education committees on stipend recipient numbers, schools, institutions, average amounts paid, and program effectiveness data.