Establishes the MiABLE fund in Michigan to manage assets for the Michigan ABLE savings program.
The bill creates the MiABLE fund in the state treasury to manage assets for the Michigan ABLE savings program. The state treasurer will deposit and invest funds in the MiABLE fund, crediting interest and earnings to the fund. Money in the fund at the end of the fiscal year remains in the fund and does not lapse to the general fund. The Department of Treasury will administer the fund and expend money from it for the administration of the Michigan ABLE savings program and reimbursement of fees.
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