Michigan SB0945 mandates the transfer of interest from the countercyclical budget and economic stabilization fund to the child care payment fund.

Michigan SB0945 amends the state's budget law to establish a countercyclical budget and economic stabilization fund. This fund aims to stabilize revenue and employment during economic downturns. The bill requires the state treasurer to deposit interest earned from this fund into the child care payment fund. This transfer must occur within 90 days of the bill's effective date. The child care payment fund is defined as the fund created under section 13b of 1973 PA 116. The amendment takes effect only if Senate Bill No. 946 is enacted into law.

Michigan SB0945 mandates the transfer of interest from the countercyclical budget and economic stabilization fund to the child care payment fund.

Michigan SB0945 amends the state's budget law to establish a countercyclical budget and economic stabilization fund. This fund aims to stabilize revenue and employment during economic downturns. The bill requires the state treasurer to deposit interest earned from this fund into the child care payment fund. This transfer must occur within 90 days of the bill's effective date. The child care payment fund is defined as the fund created under section 13b of 1973 PA 116. The amendment takes effect only if Senate Bill No. 946 is enacted into law.