206.1045 Lions of Michigan Foundation fund; creation; purpose; amounts credited under MCL 206.435; investments.
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206.1045 Lions of Michigan Foundation fund; creation; purpose; amounts credited under MCL 206.435; investments.
Sec. 5.
(1)The Lions of Michigan Foundation fund is created in the department to provide funds for donation to the Lions of Michigan Foundation to assist Michigan Lions Clubs and other charities deliver services aimed at helping children and adults with sight and hearing deficiencies and improve the quality of life of people in this state with unmet needs.
(2)The state treasurer shall credit to the fund all amounts appropriated for this purpose under section 435 of the income tax act of 1967, 1967 PA 281, MCL 206.435.
(3)The fund shall consist of the money credited to the fund pursuant to section 435 of the income tax act of 1967, 1967 PA 281, MCL 206.435, any interest and earnings accruing from the saving and investment of that money, and other appropriations, money, or other things of value received by the fund.
(4)The state treasurer shall direct the investment of the fund.
History: 2018, Act 255 , Imd. Eff. June 28, 2018