MI HB6082

Creates the baby bond trust fund in the Michigan Department of Treasury to provide funding for implementation, administration, and support of the baby bond trust account program

Authorizes the state treasurer to receive money from any source, invest fund assets, and contract with investment managers and administrators to operate the fund

Requires the Department of Treasury to expend fund money only for administering the baby bond trust account program, establishing accounts for designated beneficiaries, and making disbursements for eligible expenditures

Specifies that unspent fund balances do not lapse to the general fund at fiscal year end and remain available for future use

Requires annual reporting to the legislature, governor, and fiscal agencies by March 15 on fund activities