State management: funds; interest earned from money in the countercyclical budget and economic stabilization fund; deposit into the child care payment fund. Amends sec. 351 of 1984 PA 431 (MCL 18.1351). TIE BAR WITH: SB 0946’26
Key claim: Interest earned on Michigan’s countercyclical budget and economic stabilization fund would be deposited into the child care payment fund.
Abstract
(SB0945 · 103rd Legislature) State management: funds; interest earned from money in the countercyclical budget and economic stabilization fund; deposit into the child care payment fund. Amends sec. 351 of 1984 PA 431 (MCL 18.1351). TIE BAR WITH: SB 0946’26 Sponsor: Sen. Rosemary Bayer (D) + 5 co-sponsors In committee: S Appropriations Latest action (2026-05-07): Referred To Committee On Appropriations
Why this matters
The bill reroutes interest earnings from Michigan’s rainy-day fund into a child care payment fund, converting passive investment income on state reserves into a dedicated stream for child care affordability. For taxpayers it is a neutral reallocation (no new tax or appropriation), but it shifts how returns on the stabilization fund are used and could interact with broader child care financing vehicles like Tri-Share and the Child Development Care program.