333.26545 Children's hospital of Michigan fund; creation; purpose; credit of amounts to fund; investment; money remaining in fund at close of year.
194 words·~1 min read·
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333.26545 Children's hospital of Michigan fund; creation; purpose; credit of amounts to fund; investment; money remaining in fund at close of year.
Sec. 15.
(1)The children's hospital of Michigan fund is created in the department to provide funds for donation to the children's hospital of Michigan to support the children's hospital of Michigan in providing life-saving pediatric care, education, and research.
(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, and money from any other source for deposit into the fund.
(3)The state treasurer shall direct the investment of the fund. 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 money from any other source.
(4)Money in the fund at the close of the year shall remain in the fund and shall not lapse to the general fund.
History: 2008, Act 527 , Imd. Eff. Jan. 13, 2009