Establishes the safeguarding tomorrow revolving loan fund in the state treasury for disaster relief and emergency assistance.

Michigan HB5964 creates the safeguarding tomorrow revolving loan fund in the state treasury. The state treasurer will manage the fund, which will receive money and assets from the Robert T. Stafford disaster relief and emergency assistance act and other sources. The fund will be invested, with interest and earnings credited back to it. The Department of Management and Budget will administer the fund, using its money only for administrative costs. Political subdivisions or tribes can borrow from the fund for disaster relief and emergency assistance.

Establishes the safeguarding tomorrow revolving loan fund in the state treasury for disaster relief and emergency assistance.

Michigan HB5964 creates the safeguarding tomorrow revolving loan fund in the state treasury. The state treasurer will manage the fund, which will receive money and assets from the Robert T. Stafford disaster relief and emergency assistance act and other sources. The fund will be invested, with interest and earnings credited back to it. The Department of Management and Budget will administer the fund, using its money only for administrative costs. Political subdivisions or tribes can borrow from the fund for disaster relief and emergency assistance.