Michigan Laws 333.26545 – Children’s hospital of Michigan fund; creation; purpose; credit of amounts to fund; investment; money remaining in fund at close of year
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 333.26545
- Department: means the department of community health. See Michigan Laws 333.26543
- Fund: means the children's hospital of Michigan fund created in section 15. See Michigan Laws 333.26543
- 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 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.