The proposed bill establishes the "nuclear and hydrogen graduate attraction and retention program," which aims to provide grants to graduates from postsecondary institutions who secure employment at qualified electric generation facilities utilizing nuclear or hydrogen technology in Michigan. The program is administered by the Department of Labor and Economic Opportunity, which will develop an application and compliance process for potential participants. Eligible individuals must apply within 12 months of graduation and can receive annual grants for up to three years, contingent upon their continued employment at a qualified facility.

Additionally, the bill outlines penalties for providing false information in applications and establishes a fund to manage the financial aspects of the program. The fund will receive repayments from participants who are found to have received unentitled payments, and the Department is tasked with reporting on the program's status annually to various legislative committees. The act will only take effect if several related bills are also enacted into law.