Bill > HB4962

This bill creates the Michigan National Guard member benefit fund, a dedicated state treasury account to support various programs benefiting Michigan National Guard members. The fund will be managed by the state treasurer, who can deposit money and assets from any source and will direct its investment, with all interest and earnings remaining in the fund. The Department of Military and Veterans Affairs will administer the fund and can use its money, upon appropriation, to support three specific programs: the Michigan National Guard tuition assistance act, the Michigan National Guard child care assistance act, and a potential Tricare premium reimbursement program. Importantly, any money in the fund at the end of a fiscal year will not be returned to the general fund but will remain available for future use. The bill will only take effect if two related Senate bills (Senate Bill No. 540 and Senate Bill No. 542) are also enacted into law, creating a legislative package designed to support Michigan National Guard members.

Budget and Finance

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-4962