Sec. 3.
(1) The pregnant and parenting student services fund is established in the department of treasury. The fund shall consist of money allocated, donated, or paid to the fund from any source and interest and earnings from fund investments.
(2) The state treasurer shall direct the investment of the fund.
(3) Money in the fund at the close of a fiscal year shall remain in the fund and shall not revert to the general fund.
(4) Money in the fund shall be disbursed for grants under this act and the administrative costs of the department and the department of treasury in implementing and administering this act.
(5) The state treasurer shall make a grant from the fund to an institution of higher education upon receipt of a written notice from the department under section 4.
History: 2004, Act 500, Eff. Mar. 30, 2005
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