Michigan Laws 206.1065 – Kiwanis fund; creation; purpose; amounts credited under MCL 206.435; investments
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 206.1065
- Department: means the department of treasury. See Michigan Laws 206.1063
- Fund: means the Kiwanis fund created in section 5. See Michigan Laws 206.1063
- 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 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.