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Act No. 28
Public Acts of 2025
Approved by the Governor
October 7, 2025
Filed with the Secretary of State
October 7, 2025
EFFECTIVE DATE: October 7, 2025
STATE OF MICHIGAN
103RD LEGISLATURE
REGULAR SESSION OF 2025
Introduced by Senator Singh
ENROLLED SENATE BILL No. 574
AN ACT to amend 2000 PA 489, entitled “An act to create certain funds; to provide for the allocation of certain
revenues among certain funds and for the operation, investment, and expenditure of certain funds; and to impose
certain duties and requirements on certain state officials, ” by amending section 7 (MCL 12.257), as amended by
2024 PA 188.
The People of the State of Michigan enact:
Sec. 7. (1) The 21st century jobs trust fund is established in the department of treasury. The 21st century jobs
trust fund consists of donations of money made to the 21st century jobs trust fund from any source and all of the
following:
(a) To the extent provided in section 8(1) of the Michigan tobacco settlement finance authority act,
2005 PA 226, MCL 129.268, the net proceeds of the sale of tobacco settlement revenues to the tobacco settlement
finance authority under the Michigan tobacco settlement finance authority act, 2005 PA 226, MCL 129.261 to
129.279.
(b) Amounts appropriated from the general fund in section 89b(1) of the Michigan strategic fund act,
1984 PA 270, MCL 125.2089b.
(c) Amounts deposited in the 21st century jobs trust fund in accordance with section 7(c)( i) or 33 of the
Michigan early stage venture investment act of 2003, 2003 PA 296, MCL 125.2237 and 125.2263.
(2) The state treasurer shall direct the investment of the 21st century jobs trust fund, which may be invested
as part of the common cash of this state under 1967 PA 55, MCL 12.51 to 12.53, but must be separately accounted
for by the state treasurer. The state treasurer may invest the money or assets of the 21st century jobs trust fund
in any investment authorized under 1855 PA 105, MCL 21.141 to 21.147, for surplus funds of this state, in
obligations issued by any state or political subdivision or instrumentality of the United States, or in any obligation
issued, assumed, or guaranteed by a so lvent entity created or existing under the laws of the United States or of
any state, district, or territory of the United States that are not in default as to principal or interest. In addition,
the state treasurer shall comply with the divestment from te rror act, 2008 PA 234, MCL 129.291 to 129.301, in
making investments under this section.
(3) Except as provided in subsection (4), money in the 21st century jobs trust fund at the close of a fiscal year
remains in the 21st century jobs trust fund and does not revert to the general fund.
(4) Interest and earnings from investment of the 21st century jobs trust fund must be deposited in the general
fund.
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(5) Beginning in fiscal year 2008, and through fiscal year 2026, each fiscal year, $75,000,000.00 of the tobacco
settlement revenue received by this state that is not considered a TSR, as that term is defined in section 3 of the
Michigan tobacco settlement finance authority act, 2005 PA 226, MCL 129.263, must be deposited into the
21st century jobs trust fund.
(6) The state treasurer shall transfer and disburse money from the 21st century jobs trust fund in accordance
with section 8.
This act is ordered to take immediate effect.
Secretary of the Senate
Clerk of the House of Representatives
Approved___________________________________________
____________________________________________________
Governor