Act No. 103

Public Acts of 2008

Approved by the Governor

April 18, 2008

Filed with the Secretary of State

April 18, 2008

EFFECTIVE DATE: April 18, 2008

STATE OF MICHIGAN

94TH LEGISLATURE

REGULAR SESSION OF 2008

Introduced by Senator Switalski

ENROLLED SENATE BILL No. 1157

AN ACT to amend 1960 PA 77, entitled "An act to create the Michigan higher education assistance authority and to prescribe its powers and duties; to authorize persons, corporations, and associations to make gifts to the authority; to prescribe the powers and duties of certain state officials; to authorize, ratify, and confirm certain guarantees of students' loans and authorize reguarantees; to authorize, ratify, and confirm certain guarantees of loans made to parents of students; to validate certain prior appropriations; and to authorize the transfer of certain appropriations to be transferred to and administered by the authority," (MCL 390.951 to 390.961) by adding section 7b; and to repeal acts and parts of acts.

The People of the State of Michigan enact:

Sec. 7b. (1) The authority may use money from the Michigan guaranty agency's operating fund for the state competitive scholarship program described in 1964 PA 208, MCL 390.971 to 390.981, if all of the following are met:

(a) The money is used by the authority only in the state fiscal year ending September 30, 2008.

(b) Federal law does not prohibit use of the money used from the Michigan guaranty agency's operating fund in the manner described in this subsection.

(2) The authority described in this section is in addition to the powers described in section 7.

Enacting section 1. Section 7b of 1960 PA 77, MCL 390.957b, is repealed effective October 1, 2008.

This act is ordered to take immediate effect.

Secretary of the Senate

Clerk of the House of Representatives

Approved

Governor