The bill establishes the "Michigan veterans coalition fund," which is created within the state treasury to support veterans in Michigan. The fund will be administered by the Michigan veterans affairs agency, which is responsible for managing the fund's audits and expenditures. The state treasurer will oversee the deposit of funds and assets into the coalition fund, ensuring that any unspent money at the end of the fiscal year does not revert to the general fund. Additionally, the treasurer will manage the investment of the fund's assets, with any interest or earnings credited back to the fund.

The bill also introduces a grant program specifically designed to support veterans, which will be funded through the coalition fund. The agency will only expend money from the fund for the purpose of creating and operating this grant program, ensuring that resources are directed towards enhancing the support available to veterans in Michigan. The enactment of this bill is contingent upon the passage of Senate Bill No. 208 from the 103rd Legislature.