Mich. Comp. Laws § 206.1041
Short title.
This act shall be known and may be cited as the "Lions of Michigan Foundation fund act".
Michigan Compiled Laws — LIONS OF MICHIGAN FOUNDATION FUND ACT (Act 255 of 2018)
Michigan · statute · 255 of 2018, Mich. Comp. Laws · 6 active provisions
Mich. Comp. Laws § 206.1043
Definitions.
As used in this act: (a) "Department" means the department of treasury. (b) "Fund" means the Lions of Michigan Foundation fund created in section 5.
Mich. Comp. Laws § 206.1045
Lions of Michigan Foundation fund; creation; purpose; amounts credited under MCL 206.435; investments.
(1) The Lions of Michigan Foundation fund is created in the department to provide funds for donation to the Lions of Michigan Foundation to assist Michigan Lions Clubs and other charities deliver services aimed at helping children and adults with sight and hearing deficiencies and improve the quality of life of people…
Mich. Comp. Laws § 206.1047
Interest, earnings, and gifts; expenditures.
(1) The money, interest, and earnings of the fund shall be expended solely for the purposes described in this act. (2) Money granted or received as a gift or donation to the fund is available for distribution upon appropriation to each county from which a contribution, gift, or donation was received.
Mich. Comp. Laws § 206.1049
Use of money as matching funds for federal grant.
Money from the fund may be used as matching funds for a federal grant if those funds are to be used for the purposes described under section 5.
Mich. Comp. Laws § 206.1051
Appropriations; money remaining in fund at close of year.
The money in the fund that is available for distribution shall be appropriated each year. Money in the fund at the close of the year shall remain in the fund and shall not lapse to the general fund.