MI SB1027

Creates the "Licensed Adult Day-Care Fund Act" to establish a dedicated fund in the state treasury for licensed adult day-care facilities.

State Treasurer deposits money and assets into the fund from any source, invests fund money, and credits interest and earnings back to the fund; unspent money does not lapse to the general fund at fiscal year end.

Department of Treasury administers the fund for audit purposes and expends money only on appropriation to provide funds to adult day-care facilities licensed under the Adult Day-Care Facility Licensing Act for administrative and operational costs.

Takes effect only if Senate Bills 1025 and 1026 of the 102nd Legislature are also enacted into law.