Individual income tax: other; MiAble fund; create. Amends 2015 PA 160 (MCL 206.981 - 206.997) by adding sec. 3a. TIE BAR WITH: SB 555'25

SB 556 creates the MiABLE fund in the Michigan state treasury to support the Michigan ABLE savings program for people with disabilities. The fund receives money from income tax receipts (under MCL 206.51) and other sources, with all balances rolling over annually instead of returning to the general fund. It specifically covers program administration costs and reimburses fees charged to participants for account maintenance and asset-based fees. This bill directly affects the Michigan ABLE program’s financial operations and its participants, who use the savings accounts without losing eligibility for benefits. The fund’s structure ensures dedicated, ongoing resources for the program’s management.