Establishes the health care cost reduction fund in Michigan to manage and invest funds from civil fines and other sources.

The bill creates the health care cost reduction fund in Michigan, which will be managed by the Department of Licensing and Regulatory Affairs. The fund will receive civil fines and assessments from hospital cost review board act and health facility consolidation prevention act, as well as other sources. The state treasurer will oversee the deposit and investment of these funds, crediting interest and earnings back to the fund. The fund's purpose is to support the implementation and administration of the health care cost grant program.

Establishes the health care cost reduction fund in Michigan to manage and invest funds from civil fines and other sources.

The bill creates the health care cost reduction fund in Michigan, which will be managed by the Department of Licensing and Regulatory Affairs. The fund will receive civil fines and assessments from hospital cost review board act and health facility consolidation prevention act, as well as other sources. The state treasurer will oversee the deposit and investment of these funds, crediting interest and earnings back to the fund. The fund's purpose is to support the implementation and administration of the health care cost grant program.