Bill > HB4999

This bill creates the Michigan Nonprofit Development (ND) Fund within the state treasury, establishing a dedicated financial resource for supporting nonprofit organizations. The fund will be managed by the state treasurer, who will deposit money from appropriations and other sources, invest the funds, and credit any earnings back to the account. The bill stipulates that most of the fund's money will carry over from year to year, with any amount exceeding $5 million at fiscal year-end being transferred to the general fund. The Michigan Strategic Fund will serve as the administrator for auditing purposes. The fund can be used for three primary purposes: awarding grants to statewide nonprofit membership organizations to provide assistance and services, offering nonprofit, interest-free micro bridge loans, and covering administrative costs up to 10% of the annual appropriation. The bill is tied to another legislative proposal and will only take effect if that companion bill is also enacted into law, ensuring coordinated implementation of the proposed funding mechanism for nonprofit support.

Government Affairs

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-4999