Michigan Laws 206.1015 – Michigan junior achievement fund; creation; purpose; administrator; amounts credited under MCL 206.435; interest and earnings; other appropriations, money, or value; investment
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 206.1015
- Department: means the department of treasury. See Michigan Laws 206.1013
- Fund: means the Michigan junior achievement fund created in section 5. See Michigan Laws 206.1013
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(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.