Bill > SB0419

This bill amends the state law governing the Children's Trust Fund, which is a charitable and educational endowment fund managed by the state treasurer. The key changes include modifying the language around fund management and disbursement, with a significant update to the percentage of funds that can be disbursed in different fiscal years. Specifically, the bill changes the disbursement percentage from 4.25% to up to 5% starting in fiscal year 2018 (if the 12-quarter rolling average of the fund is at least $23.5 million), and introduces a new provision that beginning in fiscal year 2026, up to 8% of the 12-quarter rolling average can be disbursed. The bill also updates the language around fund management, replacing "shall" with "must" in several instances and clarifying the state treasurer's investment authority. The changes aim to provide more flexibility in fund usage while maintaining financial oversight, with the state treasurer required to prepare an annual accounting of revenues and expenditures that details the fund's interest, earnings, and how those earnings have been spent. The fund receives money from various sources, including appropriations, civil fines, and donations, and is specifically designed to support child abuse and neglect prevention efforts.

Government Affairs, Health and Social Services

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-SB-0419