Bill Text: MI HB5740 | 2017-2018 | 99th Legislature | Chaptered
Bill Title: Individual income tax; other; Kiwanis fund act; create. Creates new act. TIE BAR WITH: HB 5739'18
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2018-08-15 - Assigned Pa 259'18 With Immediate Effect [HB5740 Detail]
Download: Michigan-2017-HB5740-Chaptered.html
Act No. 259
Public Acts of 2018
Approved by the Governor
June 27, 2018
Filed with the Secretary of State
June 28, 2018
EFFECTIVE DATE: June 28, 2018
STATE OF MICHIGAN
99TH LEGISLATURE
REGULAR SESSION OF 2018
Introduced by Rep. Farrington
ENROLLED HOUSE BILL No. 5740
AN ACT to establish the Kiwanis fund in the department of treasury; to provide for the distribution of the money from the fund; to prescribe the powers and duties of certain agencies and officials; and to provide for appropriations.
The People of the State of Michigan enact:
Sec. 1. This act shall be known and may be cited as the “Kiwanis fund act”.
Sec. 3. As used in this act:
(a) “Department” means the department of treasury.
(b) “Fund” means the Kiwanis fund created in section 5.
Sec. 5. (1) The Kiwanis fund is created in the department to provide funds for donation to any Kiwanis club or organization located in this state to improve the world by making lasting differences in the lives of children.
(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.
Sec. 7. (1) The money, interest, and earnings of the fund shall be expended solely for the purposes described in this act.
(2) Money granted or received as a gift or donation to the fund is available for distribution upon appropriation to each county from which a contribution, gift, or donation was received.
Sec. 9. Money from the fund may be used as matching funds for a federal grant if those funds are to be used for the purposes described under section 5.
Sec. 11. The money in the fund that is available for distribution shall be appropriated each year. Money in the fund at the close of the year shall remain in the fund and shall not lapse to the general fund.
Enacting section 1. This act does not take effect unless House Bill No. 5739 of the 99th Legislature is enacted into law.
This act is ordered to take immediate effect.
Clerk of the House of Representatives
Secretary of the Senate
Approved
Governor
