MI HB5651

Establishes the 21st century jobs trust fund in the department of treasury, funded by donations and tobacco settlement revenues, net proceeds from tobacco settlement sales, strategic fund appropriations, and deposits from the Michigan early stage venture investment act.

Directs the state treasurer to invest fund money according to specified investment authorizations, separately accounting for the fund while allowing investment as part of common cash, and requires compliance with the divestment from terror act.

Extends the annual deposit requirement of $75,000,000 in tobacco settlement revenue into the 21st century jobs trust fund through fiscal year 2026 (previously ending earlier).

Permits transfers and disbursements from the fund only upon appropriation for programs under chapters 8A, 8B, and 8C of the Michigan strategic fund act, with money from early stage venture investments restricted to the Michigan innovation fund program.

Makes the act contingent on enactment of House Bill 5652 and House Bill 5653 during the 102nd Legislature, with an effective date 91 days after final adjournment of the 2024 regular session.