MI SB1215

Creates the opportunity endowment trust fund within the state treasury to address systemic inequities exacerbated by COVID-19

Authorizes the state treasurer to receive money and assets from any source for deposit into the fund and directs investment of fund assets with interest and earnings credited back to the fund

Requires fund balances to remain in the endowment at fiscal year-end rather than lapsing to the general fund, with the Department of Treasury serving as administrator for auditing purposes

Permits expenditures from the fund upon appropriation to address three areas: health disparities and co-morbidities; unemployment/underemployment through workforce development and sustainable living wage employment; and small business development including capitalization and access to capital