The bill amends the existing law regarding the state children's trust fund, which is established as a charitable and educational endowment fund within the Department of Treasury. It outlines the sources of funding for the trust fund, including appropriations from the income tax act, civil fines from the playground equipment safety act, and other specified sources. The state treasurer is granted authority to invest the fund's assets similarly to an investment fiduciary under the public employee retirement system investment act, while also ensuring compliance with the divestment from terror act. The bill specifies the disbursement of funds, allowing for a percentage of the fund's rolling average to be available for disbursement based on certain financial thresholds.

Additionally, the bill introduces a requirement for the state treasurer to prepare an annual accounting of the trust fund's revenues and expenditures, detailing the interest and earnings generated and how they have been utilized. This accounting must be submitted to the appropriations committees of both the Senate and House of Representatives. The bill also stipulates that it will only take effect if certain other bills from the 103rd Legislature are enacted into law.

Statutes affected:
Substitute (S-1): 21.171
House Introduced Bill: 21.171
As Passed by the House: 21.171
As Passed by the Senate: 21.171
House Concurred Bill: 21.171
Public Act: 21.171
House Enrolled Bill: 21.171