2020 Michigan Compiled Laws
Chapter 206 - Income Tax Act of 1967
Act 181 of 2016 Michigan Junior Achievement Fund Act (206.1011 - 206.1021)
Section 206.1015 Michigan Junior Achievement Fund; Creation; Purpose; Administrator; Amounts Credited Under MCL 206.435; Interest and Earnings; Other Appropriations, Money, or Value; Investment.
Sec. 5.
(1) The Michigan junior achievement fund is created in the department to provide funds for donation to any junior achievement organization located in this state to assist each organization in achieving its goals of inspiring and preparing young people to succeed in a global economy by showing them how to generate wealth and effectively manage it, how to create jobs which make their communities more robust, and how to apply entrepreneurial thinking to the workplace. The department shall be the administrator of the fund for auditing purposes.
(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: 2016, Act 181, Imd. Eff. June 16, 2016
