The bill amends the Michigan Trust Fund Act by updating several sections, including definitions and provisions related to various trust funds. Notably, it introduces new definitions for the "Community district education trust fund," "Flint settlement trust fund," "Local government reimbursement fund," "Medicaid benefits trust fund," and "Michigan opioid healing and recovery fund." The bill also modifies the definition of "Medicaid program" and removes the definition of the "Strategic outreach and attraction reserve fund." Additionally, it allows the state treasurer to expend money from the 21st century jobs trust fund for any purpose provided by law, rather than being limited to specific programs.

Furthermore, the bill establishes the Flint settlement trust fund to address the Flint water crisis and outlines the state treasurer's responsibilities regarding the fund, including receiving and investing money, as well as ensuring that funds do not lapse to the general fund at the end of the fiscal year. It mandates annual appropriations from the general fund to the Flint settlement trust fund for a specified period and clarifies the conditions under which the Special Purpose FWC Settlement Entity can pledge or assign payments. The bill also repeals a section of the Michigan Trust Fund Act and stipulates that it will not take effect unless another related Senate Bill is enacted.

Statutes affected:
Senate Introduced Bill: 12.252, 12.254