October 10, 2013, Introduced by Reps. Potvin, Kivela, Hooker, McBroom, Tlaib and Rendon and referred to the Committee on Tax Policy.


     A bill to establish the Michigan junior achievement 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.




     Sec. 1. This act shall be known and may be cited as the


"Michigan junior achievement fund act".


     Sec. 3. As used in this act:


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


     (b) "Fund" means the Michigan junior achievement fund created


in section 5.


     Sec. 5. (1) The Michigan junior achievement fund is created in


the department to provide funds for donation to any junior


achievement organization located in this state to inspire and


prepare young people to succeed in a global economy by showing them


how to generate wealth and effectively manage it, how to create


jobs which make their communities more robust, and how to apply


entrepreneurial thinking to the workplace.


     (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.


     (3) 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 other appropriations, money, or other


things of value received by the fund.


     (4) The state treasurer shall direct the investment of the




     Sec. 7. (1) The money, interest, and earnings of the fund


shall be expended solely for the purposes described in this act.


     (2) Money granted or received as a gift or donation to the


fund is available for distribution upon appropriation to each


county from which a contribution, gift, or donation was received.


     Sec. 9. Money from the fund may be used as matching funds for


a federal grant if those funds are to be used for financial


literacy, entrepreneurship, and workforce readiness with junior


achievement organizations in this state and for the purposes


described under section 5.


     Sec. 11. The money in the fund that is available for


distribution shall be appropriated each year. Money in the fund at


the close of the year shall remain in the fund and shall not lapse


to the general fund.


     Enacting section 1. This act does not take effect unless


Senate Bill No. ____ or House Bill No. 5076 (request no. 03129'13)


of the 97th Legislature is enacted into law.