The bill amends the Michigan Trust Fund Act by updating the definitions of various trust funds and repealing a section of the existing law. Specifically, it introduces new definitions for the "Community District Education Trust Fund," "Flint Settlement Trust Fund," "Local Government Reimbursement Fund," "Medicaid Benefits Trust Fund," "Medicaid Program," "Medicaid Special Financing Payments," "Michigan Merit Award Trust Fund," and "Michigan Opioid Healing and Recovery Fund." Additionally, it removes the definition of the "Strategic Outreach and Attraction Reserve Fund" and adjusts the numbering of subsequent definitions accordingly.

Furthermore, the bill repeals Section 4 of the Michigan Trust Fund Act, which is no longer deemed necessary. It also stipulates that the amendments will only take effect if Senate Bill No. 488 of the 103rd Legislature is enacted into law. This legislative change aims to streamline the definitions and ensure that the trust funds are accurately represented in the law.

Statutes affected:
Senate Introduced Bill: 12.252, 12.254