Michigan Laws 32.434 – Michigan National Guard tuition assistance fund
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Terms Used In Michigan Laws 32.434
- Adjutant general: means the adjutant general of this state. See Michigan Laws 32.432
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Course of study: means an individual class, or group of classes, in which an eligible person is enrolled for the purpose of obtaining a not-yet-completed training program, obtaining a not-yet-completed certificate program, or obtaining a not-yet-completed associate, bachelor's, or master's degree. See Michigan Laws 32.432
- Eligible educational institution: means a public or private college, university, vocational school, technical school, or trade school located in this state. See Michigan Laws 32.432
- Eligible person: means a member of the Michigan national guard who meets all of the following conditions:
(i) Is in active service. See Michigan Laws 32.432Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006. Fund: means the Michigan national guard tuition assistance fund created in section 4. See Michigan Laws 32.432 person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o Tuition: means the cost of a course of study at an eligible educational institution, including the cost of instructional fees, laboratory fees, computer fees, and other fees directly related to that eligible person's specific course of study at that eligible educational institution. See Michigan Laws 32.432
(1) The Michigan National Guard tuition assistance fund is created within the state treasury.
(2) The state treasurer may receive money or other assets from any source for deposit into the fund. The state treasurer shall direct the investment of the fund. The state treasurer shall credit to the fund interest and earnings from the fund.
(3) The balance of money in the fund must not exceed $15,000,000.00. Any balance of money in the fund in excess of $15,000,000.00 lapses to the general fund. Money in the fund at the close of the fiscal year remains in the fund and, except as otherwise provided in this subsection, does not lapse to the general fund.
(4) The department of military and veterans affairs is the administrator of the fund for auditing purposes.
(5) The adjutant general shall expend money from the fund to provide tuition assistance to an eligible person, or other individual described in section 3(9), for the cost of tuition to an eligible educational institution under section 3(3) or to reimburse an eligible person, or other individual described in section 3(9), for the cost of tuition paid to an eligible educational institution under section 3(4) for a course of study completed by the eligible person, or other individual described in section 3(9).