SB 207

SENATE BILL NO. 207
A bill to create a Michigan veterans coalition fund; and to
provide for the powers and duties of certain state governmental officers and
entities.
the people of the state of michigan enact:
Sec.
1. This act may be cited as the "Michigan veterans coalition fund
act".
Sec. 3. As used in this act:
(a) "Agency" means
the Michigan veterans affairs agency.
(b) "Fund" means
the Michigan veterans coalition fund created in section 5.
(c) "Grant program"
means the Michigan veterans coalition grant program created in the Michigan veterans coalition grant program act.
Sec. 5. (1) The Michigan veterans
coalition fund is created in the state treasury.
(2) The state treasurer shall deposit money and other assets
received from any source in the fund. Money in the
fund at the close of the fiscal year does not lapse to the general fund. The
state treasurer shall direct the investment of money in the fund and credit
interest and earnings from the investments to the fund.
(3) The agency is the administrator of the fund for audits of
the fund.
(4) The agency shall expend money from the fund on
appropriation only to create and operate the grant program.
Enacting section 1.
This act does not take effect unless Senate Bill No. 208 of the 103rd
Legislature is enacted into law.