Establishes the revenue sharing trust fund in Michigan, detailing its creation, management, and disbursement to local governments.

The bill establishes the revenue sharing trust fund in Michigan, detailing its creation, management, and disbursement to local governments. The fund will consist of money deposited from the general sales tax act, donations, and interest and earnings. The governor and state budget director must include an appropriation for the fund in the annual budget submitted to the legislature. The state treasurer will manage the fund's investments and ensure that money remains in the fund and does not lapse to the general fund.

Establishes the revenue sharing trust fund in Michigan, detailing its creation, management, and disbursement to local governments.

The bill establishes the revenue sharing trust fund in Michigan, detailing its creation, management, and disbursement to local governments. The fund will consist of money deposited from the general sales tax act, donations, and interest and earnings. The governor and state budget director must include an appropriation for the fund in the annual budget submitted to the legislature. The state treasurer will manage the fund's investments and ensure that money remains in the fund and does not lapse to the general fund.