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MI SB0556
Bill
Status
9/18/2025
Primary Sponsor
Michael Webber
Click for details
AI Summary
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Creates the MiABLE fund in the state treasury to support Michigan's Achieving a Better Life Experience (ABLE) program for individuals with disabilities
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State treasurer must deposit money received under the income tax act and other sources into the fund, and direct investments with interest and earnings credited back to the fund
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Fund money does not lapse to the general fund at the end of the fiscal year, remaining available for program use
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Fund expenditures limited to administration of the Michigan ABLE savings program and reimbursement of asset-based fees and maintenance fees charged to account holders
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Bill is contingent on enactment of Senate Bill No. 555 of the 103rd Legislature (tie bar provision)
Legislative Description
Individual income tax: other; MiAble fund; create. Amends 2015 PA 160 (MCL 206.981 - 206.997) by adding sec. 3a. TIE BAR WITH: SB 555'25
Individual income tax: other
Last Action
Referred To Committee On Housing And Human Services
9/18/2025