Bill Text: MI SB0541 | 2023-2024 | 102nd Legislature | Introduced
Bill Title: Veterans: other; Michigan veterans coalition fund; create. Creates new act. TIE BAR WITH: SB 0540'23
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: (Introduced) 2023-10-03 - Referred To Committee On Veterans And Emergency Services [SB0541 Detail]
Download: Michigan-2023-SB0541-Introduced.html
SENATE BILL NO. 541
A bill to create a Michigan veterans coalition fund; and to provide for the powers and duties of certain state governmental officers and entities.
the people of the state of michigan enact:
Sec. 1. This act may be cited as the "Michigan veterans coalition fund act".
(a) "Agency" means the Michigan veterans affairs agency.
(b) "Fund" means the Michigan veterans coalition fund created in section 5.
(c) "Grant program" means the Michigan veterans coalition grant program created in the Michigan veterans coalition grant program act.
Sec. 5. (1) The Michigan veterans coalition fund is created in the state treasury.
(2) The state treasurer shall deposit money and other assets received from any source in the fund. Money in the fund at the close of the fiscal year does not lapse to the general fund. The state treasurer shall direct the investment of money in the fund and credit interest and earnings from the investments to the fund.
(3) The agency is the administrator of the fund for audits of the fund.
(4) The agency shall expend money from the fund on appropriation only to create and operate the grant program.
Enacting section 1. This act does not take effect unless Senate Bill No. 540 of the 102nd Legislature is enacted into law.
