Bill > HB5651

This bill modifies the management of the 21st Century Jobs Trust Fund, a state fund established to support job creation and economic development initiatives. The bill clarifies that money in the fund, except for interest and earnings which go to the general fund, remains in the trust fund at the end of a fiscal year and does not revert to the general fund. It also specifies that the State Treasurer manages the fund's investments, which can be pooled with other state funds but must be tracked separately, and outlines permissible investment types, including those that comply with the divestment from terror act. The bill further details how money from the fund can be transferred and disbursed, primarily upon request from the fund board and only for specific programs authorized under the Michigan Strategic Fund Act, with a particular provision for money originating from the Michigan Early Stage Venture Investment Act to be used solely for the Michigan Innovation Fund program.