Michigan HB6130 modifies the Michigan Trust Fund Act, adjusting the community district education trust fund's operations and funding.
Michigan HB6130 amends the Michigan Trust Fund Act, specifically Section 12 of 2000 PA 489. It modifies the operations and funding of the community district education trust fund, which is within the state treasury. The bill allows the state treasurer to receive and invest money or assets into the fund, with a cap of $617,000,000.00. If the fund's amount is insufficient to offset local school operating revenue, tobacco settlement revenue is to be deposited into the fund. The fund can only be used to offset the absence of local school operating revenue in community districts.
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- Core Provisions
- Implementation
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- Legal Framework
- Critical Issues
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