Bill > HB5264

This bill creates the Michigan Military and Veteran Services Support Fund, a charitable and educational endowment fund within the state treasury designed to support military service members, veterans, and their families. The fund will have two separate accounts: one focused on supporting military service members and their families, and another dedicated to supporting veterans and their communities. The bill establishes a seven-member board to oversee the fund, including representatives from military and veteran agencies, and five appointed members with backgrounds in fundraising or charitable giving who represent various stakeholder groups such as service members, veterans, veteran service organizations, military trade associations, and the general public. Board members will serve four-year terms, with initial appointments having staggered term lengths. The fund will be tax-deductible and managed by the state treasurer, who will invest its assets using the same authority as a public employee retirement system investment fiduciary. The board will have the power to request appropriations, make fund allocations, accept gifts and bequests, enter into contracts, and develop policies to support military and veteran services. The state treasurer must prepare an annual accounting of the fund's revenues and expenditures, which will be reported to legislative appropriations committees, ensuring transparency and accountability in the fund's management.

Government Affairs

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-5264