Individual income tax: other; MiAble fund; create. Amends 2015 PA 160 (MCL 206.981 - 206.997) by adding sec. 3a. TIE BAR WITH: SB 0874'24

This bill creates the MiABLE fund within the state treasury to support the Michigan ABLE savings program. It establishes that money deposited in the fund, including interest and earnings, will remain there rather than being transferred to the general fund. The bill designates the state department as the administrator for auditing the fund and allows spending from it only for program administration or to reimburse specific fees charged to participants. Additionally, the bill includes a provision stating that it will not take effect unless a companion bill, Senate Bill 874, is also enacted into law.