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BJH S02260'25_SB0945_INTR_1 enogic
SENATE BILL NO. 945
A bill to amend 1984 PA 431, entitled
"The management and budget act,"
by amending section 351 (MCL 18.1351).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 351. (1) A Except as otherwise provided in subsection 1
(2), a countercyclical budget and economic stabilization fund is 2
created to assist in stabilizing revenue and employment during 3
periods of economic recession and high unemployment. Funds 4
deposited into the countercyclical budget and economic 5
May 07, 2026, Introduced by Senators BAYER, CHANG, IRWIN, MOSS, GEISS and
ANTHONY and referred to Committee on Appropriations.
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BJH S02260'25_SB0945_INTR_1 enogic
stabilization fund must be available for distribution by not later 1
than January 1 of the calendar year following the deposit. 2
(2) By not later than 90 days after the effective date of the 3
amendatory act that added this sentence, the state treasurer shall 4
deposit into the child care payment fund, and make available for 5
distribution, money from the interest accrued from the 6
countercyclical budget and economic stabilization fund from the 7
fiscal year ending September 30, 2024 to the effective date of the 8
amendatory act that added this sentence. Beginning on the effective 9
date of the amendatory act that added this sentence, all interest 10
from fund investments from the countercyclical budget and economic 11
stabilization fund must be deposited into the child care payment 12
fund. 13
(3) As used in this section, "child care payment fund" means 14
the child care payment fund created in section 13b of 1973 PA 116, 15
MCL 722.123b. 16
(4) (2) As used in this section and sections 352 to 359, 17
"fund" means the countercyclical budget and economic stabilization 18
fund. 19
(5) (3) As used in section 352, "current calendar year" means 20
the year that ends December 31 in which the determination of the 21
transfer into or out of the fund is being made. 22
Enacting section 1. This amendatory act does not take effect 23
unless Senate Bill No. 946 of the 103rd Legislature is enacted into 24
law. 25