MI SB0562

Renames the "strategic outreach and attraction reserve fund" to the "make it in Michigan fund" throughout the Michigan Trust Fund Act.

Adds the "make it in Michigan fund" to the list of defined trust funds in Section 2 of the act.

Expands allowable uses of the fund to include the Michigan 360 program created under the Michigan strategic fund act, in addition to the critical industry program and Michigan strategic site readiness program.

Requires 50% of annual deposits to the fund from income tax revenue under MCL 206.695 to be reserved specifically for the Michigan 360 program.

Modifies fund lapse provisions so that unrestricted balances lapse to the general fund at fiscal year-end, while adding new investment authority options for fund management.