The proposed bill establishes the "nuclear and hydrogen education grant program act," aimed at providing grants to postsecondary schools in Michigan that develop or enhance educational programs leading to degrees or credentials relevant to the nuclear and hydrogen industries. The bill defines key terms, including "Department," "Fund," "Postsecondary school," "Program," and "Qualified education program," which outlines the criteria for educational programs that support these industries. Notably, a qualified education program must lead to a degree or credential in fields related to nuclear or hydrogen energy and offer scholarships or tax incentives for students who commit to working in the industry for at least three years after graduation.

The bill also mandates the Department of Labor and Economic Opportunity to administer the grant program, awarding funds on a competitive basis to eligible postsecondary institutions. Additionally, the Department is tasked with creating rules and procedures for the program's administration, including application processes and grant awards. The enactment of this bill is contingent upon the passage of several related bills in the 103rd Legislature.