Bill > HB4957

This bill amends the Michigan trust fund act by modifying provisions related to the 21st century jobs trust fund. Specifically, the bill eliminates a provision that previously required $17,500,000 of non-tobacco settlement revenue (non-TSR) to be deposited annually into the countercyclical budget and economic stabilization fund from fiscal year 2015 through fiscal year 2035. The bill maintains existing provisions that require $75,000,000 of non-TSR tobacco settlement revenue to be deposited into the 21st century jobs trust fund annually through fiscal year 2026. The trust fund can receive donations from various sources, including tobacco settlement revenue proceeds, general fund appropriations, and venture investment act deposits. The state treasurer is responsible for investing the fund's assets in authorized investments, with the requirement to separately account for these funds and comply with divestment from terror act regulations. Interest and earnings from the trust fund's investments will continue to be deposited in the general fund, and unspent money in the trust fund at the end of each fiscal year will remain in the fund rather than reverting to the general fund.

Budget and Finance

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-4957