Establishes the revenue sharing trust fund in Michigan, detailing its composition, management, and distribution mechanisms.
The bill establishes the revenue sharing trust fund in Michigan, detailing its composition, management, and distribution mechanisms. The fund includes money from various sources such as tobacco settlement revenue, donations, and interest from investments. The state treasurer is responsible for managing the fund's investments. The bill outlines specific distribution methods for the fund, including taxable value payments, unit type population payments, and yield equalization payments to cities, villages, and townships.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.