Michigan Senate Bill SB0913

Michigan 2025-2026 Regular Session

• Introduced: 4/22/26
• Refer: 4/22/26

Caption

State management: funds; certain deposits of tobacco settlement revenue into the 21st century jobs trust fund; eliminate sunset for. Amends sec. 7 of 2000 PA 489 (MCL 12.257).

Impact

With the enactment of SB 913, the funds from the tobacco settlement will continue to be mobilized for economic development without the constraints of a temporary sunset provision. This removal of the time limit is expected to enhance the Trust Fund's capacity to invest in projects that could foster innovation and job creation across Michigan. Furthermore, by ensuring that these funds are not reverted to the general fund at the end of fiscal years, the state can maintain a more reliable stream of funding for important economic initiatives.

Summary

Senate Bill 913 aims to amend the Michigan Trust Fund Act by adjusting the provisions governing the 21st Century Jobs Trust Fund. Importantly, the bill removes the sunset clause that previously dictated the duration of certain financial provisions relating to tobacco settlement revenues. As a result, the Trust Fund will have a more permanent status, enabling sustained investments into the state's economy through the allocation of these revenues. The bill also outlines specific sources of funding, such as donations and state appropriations, ensuring a more robust fiscal framework for future economic growth initiatives.

Contention

Notably, discussions surrounding SB 913 have brought forth debates on the management and investment strategies of the Trust Fund. Some stakeholders express concerns over the allocation and use of the tobacco settlement revenues, questioning whether the funds will be appropriately invested to produce tangible economic benefits. Additionally, there are discussions on compliance with investment laws, including adherence to the divestment from terrorism statutes, which may influence the fund’s operational protocols moving forward. The balance between ensuring economic development while maintaining ethical investment practices remains a focal point of contention among legislators and the public alike.