SENATE BILL NO. 110

February 09, 2021, Introduced by Senators HERTEL, MOSS, POLEHANKI, GEISS, CHANG, ALEXANDER and BRINKS and referred to the Committee on Finance.

A bill to establish the Conquering CHD fund in the department of treasury; to provide for the distribution of the money from the fund; to prescribe the powers and duties of certain agencies and officials; and to provide for appropriations.

the people of the state of michigan enact:

Sec. 1. This act shall be known and may be cited as the "Conquering CHD fund act".

Sec. 3. As used in this act:

(a) "Department" means the department of treasury.

(b) "Fund" means the Conquering CHD fund created in section 5.

Sec. 5. (1) The Conquering CHD fund is created in the department to provide funds for donation to Conquering CHD Michigan. 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, 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.

Sec. 7. The money, interest, and earnings of the fund shall be expended solely for donation to Conquering CHD Michigan to support the Michigan chapter of Conquering CHD in improving the lives of those with congenital heart disease and their families through direct support, education, research, and awareness.

Sec. 9. The money in the fund that is available for distribution shall be appropriated each year. Money granted or received as a gift or donation to the fund is available for distribution upon appropriation.

Enacting section 1. This act does not take effect unless Senate Bill No. 111 of the 101st Legislature is enacted into law.