Michigan Laws 722.1030 – Disbursement; limitation
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 722.1030
- Department: means the department of treasury. See Michigan Laws 722.1022
- 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
- Trust fund: means the fostering futures scholarship trust fund created in section 3. See Michigan Laws 722.1022
(1) The department may authorize the disbursement of available money from the trust fund, upon legislative appropriations, as provided in section 3, to fund actual and necessary operating expenses that the department incurs in performing its duties under this act. Authorizations for disbursement of trust fund money under this section shall be kept at a minimum in furtherance of the primary purpose of the trust fund.
(2) Trust fund money shall not be disbursed to a foster care student until after that foster care student has exhausted all other known available restricted grants for qualified educational expenses for postsecondary education provided by a federal, state, or local governmental entity, as determined by the department, except for funds provided under the Michigan promise zone authority act, 2008 PA 549, MCL 390.1661 to 390.1679.
(3) Money provided by the department on behalf of a foster care student under this act shall not exceed the cost of that foster care student’s tuition, fees, room, board, books, supplies, and equipment required for enrollment at the institution of higher education as determined by the department.