This bill amends the Michigan veterans' trust fund law, specifically sections 3b and 4b, to enhance the governance and administration of the fund. It establishes the Michigan veterans' trust fund board of trustees, which must consist of members who are veterans and possess relevant knowledge and experience in public service, business, or finance. The bill specifies the appointment process for board members, requiring the governor to appoint individuals from various veterans' organizations, and outlines the terms of service, qualifications, and conditions for removal of board members. Additionally, it clarifies that members are entitled to reimbursement for necessary expenses incurred while attending meetings.

Furthermore, the bill emphasizes that the board is responsible for administering the Michigan veterans' trust fund and stipulates that funds within the trust must not be transferred or expended except as allowed by the act and the state constitution. The amendments aim to ensure a more structured and accountable management of the trust fund, ultimately benefiting Michigan veterans. The enactment of this bill is contingent upon the passage of House Bill No. 5273.

Statutes affected:
House Introduced Bill: 35.603, 35.604