The bill amends the Michigan Trust Fund Act by updating the definitions of various trust funds and repealing an existing section. 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 modifies the definition of "Tobacco settlement revenue" and "21st century jobs trust fund," while deleting the previous definition of the "Strategic outreach and attraction reserve fund."

Furthermore, the bill repeals Section 4 of the Michigan Trust Fund Act, which is no longer deemed necessary. The enactment of this amendatory act is contingent upon the passage of Senate Bill No. 488 of the 103rd Legislature. This legislative change aims to streamline the definitions and structure of trust funds within Michigan law, ensuring clarity and relevance in the state's financial management.

Statutes affected:
Senate Introduced Bill: 12.252, 12.254