Section 333.26565 - Children's miracle network fund; creation; purpose; credit to fund; investment; interest and earnings.
CHILDREN'S MIRACLE NETWORK FUND ACT (EXCERPT)
Act 557 of 2008
333.26565 Children's miracle network fund; creation; purpose; credit to fund; investment; interest and earnings.
Sec. 5.
(1) The children's miracle network fund is created in the department to provide funds for donation to the children's miracle network to support the children's miracle network hospitals located in this state in providing life-saving pediatric care, education, and research.
(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.
History: 2008, Act 557, Imd. Eff. Jan. 16, 2009