The Michigan National Guard member benefit fund act establishes a dedicated fund within the state treasury to support various benefits for members of the Michigan National Guard. The fund will be administered by the Department of Military and Veterans Affairs, which will oversee the deposit and investment of money and assets received from various sources. Importantly, any funds remaining at the end of the fiscal year will not lapse into the general fund, ensuring that resources are preserved for their intended purpose.

The act outlines specific programs that will be funded, including the Michigan National Guard tuition assistance act, the Michigan National Guard child care assistance act, and potentially a Tricare premium reimbursement program if established by state law. The act will only take effect if certain related bills from the 103rd Legislature are also enacted, emphasizing the interconnected nature of these legislative efforts.