The proposed bill establishes the "nuclear and hydrogen education grant program act," aimed at supporting postsecondary educational institutions in Michigan that develop or enhance 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 eligible for grants. These programs must not only lead to relevant degrees or credentials but also offer scholarships or tax incentives to students who commit to working at electricity-generating facilities powered by nuclear or hydrogen energy for at least three years after graduation.

The bill mandates the Department of Labor and Economic Opportunity to administer the grant program, awarding funds on a competitive basis to qualifying postsecondary schools. 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.