Mich. Comp. Laws § 125.2263

Current through Public Act 190 of the 2024 Legislative Session
Section 125.2263 - [Effective 4/2/2025] Conditional effective date

Notwithstanding anything to the contrary in this act, both of the following apply:

(a) If, on June 30, 2024, a Michigan early stage venture investment corporation has 1 or more Michigan early stage venture investment funds with realized earned returns on investments as of June 30, 2024, the board of the Michigan early stage venture investment corporation shall enter into an agreement with the department of treasury to distribute to the state treasurer $60,000,000.00 of the earned returns for deposit in the 21st century jobs trust fund established in section 7 of the Michigan trust fund act, 2000 PA 489, MCL 12.257, and the remainder of the earned returns for deposit in the general fund of this state.
(b) For each year after December 31, 2024, if a Michigan early stage venture investment corporation has 1 or more Michigan early stage venture investment funds with realized earned returns on investments as of June 30 of that year, the board of the Michigan early stage venture investment corporation shall enter into an agreement with the department of treasury to distribute the earned returns as of June 30 of that year to the state treasurer for deposit in the general fund of this state.

MCL 125.2263

Amended by 2024, Act 189,s 3, eff. 4/2/2025.
Added by 2003, Act 296, s 18, eff. 1/8/2004.
This section is set out more than once due to postponed, multiple, or conflicting amendments.