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News & Events Digest: June 2024





Budget
Gov. Whitmer, Legislative Leaders Celebrate Passage of FY25 Budget

On Thursday, Governor Gretchen Whitmer, Senate Majority Leader Winnie Brinks, Speaker of the House Joe Tate, and other legislative leaders celebrated passage of a balanced and bipartisan budget for fiscal year 2025 that supports students, boosts public safety, builds affordable housing, and will help anyone "make it" in Michigan. 

 “We are once again setting Michigan up for success by making record investments that will benefit everyone across the state without raising taxes by a penny,” said *Governor Gretchen Whitmer*. “This budget will grow our economy, fix the damn roads, ensure first responders have the funding to keep our neighborhoods safe, and build a heck of a lot more affordable housing, while also bringing down costs and putting more money back in people’s pockets. As a parent, I know our kids are our number one priority, which is why this budget puts students first by making historic investments to improve learning outcomes from pre-K through college, so that every child can get a world-class education. Together, we are getting things done that make a real difference in people’s lives and ensuring everyone can ‘make it’ in Michigan and will continue to improve learning outcomes so every student can succeed.” 

The FY25 budget totals $82.5 billion, including a general fund total of $15 billion and a school aid budget total of $19 billion. 

Read more on about the passage of the state of Michigan's FY25 budget. [ [link removed] ]



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Pizza Party
Michigan Education Trust Pizza Party Raises More Than $10,000 for Fostering Futures Scholarship Trust Fund

The roughly 265 people who attended the Michigan Education Trust's 12th annual Pizza Party on the Michigan State Capitol Lawn got their fill of pizza and helped fill the Fostering Futures Scholarship Trust Fund, which awards scholarships to students enrolled in Michigan colleges and universities who have experienced foster care.

The $10,061 raised at the Tuesday, June 18, pizza party fundraiser will help make the dream of a college education a reality for students who otherwise might lack resources to pursue higher education when they age out of the foster care system.

For a minimum donation of $10, attendees received a slice of pizza, dessert and a drink.

This year, the Michigan Department of Treasury’s Black History Committee partnered with the Fostering Futures Scholarship to hold a celebration in honor of Juneteenth.

Students who receive this scholarship can use the money for tuition, housing, books and other college expenses. Funds raised through the Fostering Futures Scholarship Trust Fund [ [link removed] ] provide scholarships to young adults who have experienced foster care and are enrolled at a Michigan degree-granting college or university. Awards are paid to the students’ college or university for expenses.

More than 10,000 youth are in the Michigan foster care system run by Michigan Department of Health and Human Services. Fewer than 10% of former foster youth nationally enroll in school after high school and fewer than 3% eventually earn a degree.

In addition, over 100 pillows were collected during the pizza party for The Pillow Effect, a Michigan Youth Opportunities Initiative (MYOI) project.  Because children entering foster care often don’t have their essential personal items with them, The Pillow Effect provides pillows to foster care youth in Berrien, Calhoun, Clinton/Eaton, Ingham, Ionia/Montcalm, Jackson, Livingston and Macomb counties.

The Pizza Party on the Capitol Lawn is sponsored by Hungry Howie’s, Park West Foundation, Michigan Student Financial Aid Association, Michigan College Access Network, LAFCU, Güd Marketing, the Michigan Association of Broadcasters, WLNS-TV 6, CATALIS and MSU Federal Credit Union and supported by partnerships with the Michigan Department of Health and Human Services, Treasury Black History Committee and Michigan Youth Opportunities Initiative.

Couldn’t attend and want to make a different?

Donate or register online using a credit card [ [link removed] ] or to make a donation by check, complete and submit the Fostering Futures Scholarship Contribution Form [ [link removed] ] along with a check made payable to the State of Michigan—Fostering Futures Scholarship. 

Contributions made by Dec. 31 are eligible for a tax deduction on your federal and state income tax form in the year they are made. As an IRC Section 170(c) organization, all donations to MET’s Fostering Futures Scholarship Trust Fund are tax deductible.

To learn more about the Fostering Futures Scholarship Trust Fund or to donate, go to www.michigan.gov/fosteringfutures [ [link removed] ].



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Podcast

This month, State Treasurer Rachael Eubanks and Chief Economist Eric Bussis discuss May's Consensus Revenue Estimating Conference (CREC). [ [link removed] ]



Medicaid

Completing your Medicaid renewal paperwork and returning the information as soon as possible helps keep your family protected. [ [link removed] ]






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MIC Logo
The Asset Management Champions Program Reaches a Milestone of 500 Graduates, Fostering Resilience and Innovation in Infrastructure Management

More than 500 Michiganders across the state are advocating in their communities for best practices in infrastructure asset management thanks to the Michigan Infrastructure Council’ [ [link removed] ]s Asset Management (AM) Champions Program [ [link removed] ]. Now, the MIC is welcoming a new cohort of infrastructure leaders in an effort to continue building a network of talented individuals across the state. Interested individuals and organizations have until July 26, 2024 to apply. [ [link removed] ]

“The Asset Management Champions Program is helping individuals gain the knowledge, skills, and networks needed to navigate the complexities of infrastructure management effectively,” said MIC Chair Palencia Mobley, P.E. “As we celebrate the milestone of over 500 program graduates statewide, we're driving forward the principles of asset management and paving the way for a more resilient and prosperous future. Each graduate symbolizes the effort to enhance infrastructure management practices across the state of Michigan.”

The Asset Management Champions program cultivates collaboration and expands asset management education among asset managers and decision-makers across Michigan, helping them learn effective infrastructure management. The program is approved for drinking water operator continuing education credit (CECs) by the Department of Environment, Great Lakes, and Energy (EGLE). The program offers industry learning, interactive training, and peer networking to educate participants on identifying, assessing, and maintaining infrastructure assets, delivering more effective and efficient community decisions. 

“The Asset Management Champions program teaches how to take the necessary steps to maintain infrastructure and provide the best quality of life for the residents within your community," said AM Champion and Village of Cassopolis Clerk Tonia Betty. “It will help you identify what assets you have, create a management plan, provide tools to continually assess its efficiency, and create a plan for replacement prior to criticality.”

The AM Champions program continues to grow with more than 500 champions represented in 70 of Michigan’s 83 counties.

“It is so exciting to reach the milestone of graduating 500 Asset Management Champions through this program,” said MIC Co-Chair and Executive Director of the West Michigan Shoreline Regional Development Commission Erin Kuhn. “This program has given asset owners essential tools and techniques to better manage our infrastructure for decades to come. It has also established a community of 500 peers who have a consistent knowledge of Asset Management and developed relationships that will foster continued growth.”

The AM Champions Program is empowering individuals from diverse communities and sectors to equip them with the skills they need to be successful and break down organizational silos. Through this diversity of perspectives and experiences, the program fosters innovative solutions and best practices tailored to address the challenges faced by each community, allowing participants from communities of all sectors to drive positive change in their respective areas. 

“The Asset Management Champion course has provided me with practical tools to help craft a comprehensive asset management plan for our community,” said AM Champion and City of Charlevoix Manager Mark L. Heydlauff. “I have always thought about the water, sewer, streets, and electric infrastructure but this course caused me to think more holistically. I'm sure this will help us make better and more thoughtful long-range infrastructure decisions.”

Infrastructure assets form the foundation of Michigan's communities, delivering essential services and supporting public health, economic growth, and overall quality of life. Through the AM Champions Program, MIC continues to provide accurate and trusted information to support effective infrastructure decisions, ensuring a brighter future for all Michiganders.

“I'm thankful for the opportunity to participate in the MIC Asset Management Champions Program,” said AM Champion and Superintendent of Blumfield Reese Water Authority Tim Sheridan. “As a graduate of Cohort 5, I received great insight into the asset management world. The lessons and networking opportunities are fantastic! I highly recommend this training to anyone involved with asset management."

Michigan has a once-in-a-generation opportunity to get things done for everyday Michiganders through the Bipartisan Infrastructure Law (BIL). The BIL will rebuild America’s roads, bridges and rails, expand access to clean drinking water, ensure every American has access to high-speed internet, tackle the climate crisis, advance environmental justice, and invest in communities that have too often been left behind. The AM Champions program equips individuals with the tools they need to manage new and existing infrastructure projects.

"The MIC AM program helped me build a foundation in critical concepts for asset management, and others from my organization have joined subsequent sessions to establish the same baseline understanding and knowledge," said AM Champion and City of Ann Arbor Capital Projects Asset Manager Kayla Coleman. "With the benefit of our shared understanding of asset management best practices, we will have more productive discussions to improve our asset management approaches overall."

For more information and to register for the upcoming cohort of the Asset Management Champions Program, please visit www.michigan.gov/mic/am-champions [ [link removed] ].



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MET Testify
Lott and Brewer Testify in Support for Greater MET and MESP Flexibility

Office of Postsecondary Financial Planning Bureau Administrator *Robin Lott* and Michigan Education Trust (MET) Executive Director *Diane Brewer* testified in front of state House Higher Education Committee on June 12 regarding possible state law changes that would better serve Michiganders by granting greater flexibility with their 529 saving plans.

The bulk of the changes would amend some definitions to expand the programs to apprenticeships and allow funds to be applied to outstanding student loans or rolled into MiABLE or IRA accounts.

“Our legislation concerns the Michigan Education Trust and Michigan Education Savings Program,” said state Rep. *Sharon MacDonell* (D-Troy) during the hearing. “In 2019, the federal government updated Section 529 of the IRS code to include qualified apprenticeships to the definition of eligible educational institution. This meant that students choosing a career in the trades could pay for trade school education through these accounts.”

Despite federal rule changes five years ago, these changes have not been applicable to the state’s 529 plans because the Michigan Constitution prohibits laws that conform to federal rule changes automatically.

A state law change would be required to allow Michigan’s 529 plans to be applicable to the trades and assist with other federal program changes and federal definition alignment.

House Bill 5782 would allow a MET contract to be terminated and refunded in lump sum under certain conditions, like death, not being admitted to an institution, or attending a recognized apprenticeship. It would also change a definition to match the Internal Revenue Code as of Jan. 1, 2024.

House Bill 5783 would change the Michigan Education Saving Program Act to expand the definition of “qualified higher education expenses” to include expenses for fees, books, supplies and equipment related to an apprenticeship program and principal and interest on federally qualified education loans. It would also change a definition to match the Internal Revenue Code as of Jan. 1, 2024.

Read more on Treasury's Medium page. [ [link removed] ]



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MiABLE Testify
DeVarona Testifies in Treasury Support of MiABLE Expansion

A bill moving through the Michigan Legislature could provide greater financial and economic benefits to Michiganders with disabilities if passed.

MiABLE Director *Scott DeVarona* testified in front of the state House Families, Children and Seniors Committee on Tuesday, June 18, to encourage passage of House Bill 5781. The bill would amend the Michigan Achieving a Better Life Experience (MiABLE) Act to revise the definition of the internal review code from “in effect on January 1, 2015” to “in effect on January 1, 2024.”

The simple definition change would allow for tax-free rollovers from education savings accounts to MiABLE accounts, enabling disabled individuals to transfer funds from their 529 plans without tax penalties. This change would also raise the disability age from 26 to 46 and make more Michiganders eligible for MiABLE enrollment.

“In practice, however, this hasn’t occurred yet in Michigan,” said State Rep. *Sharon MacDonell* (D-Troy) as she testified during the hearing. “This is due to a quirk in Michigan’s Constitution. Our state constitution bans so-called rolling conformity with federal rules changes. When the federal government updates rules governing state programs, the new rules do not go into effect in Michigan automatically. More simply put, it means updating to the new federal rules requires legislative action.”

Established in Michigan in 2015, MiABLE is a disability savings program administered by the Michigan Department of Treasury. It was designed to help ease the financial burden challenging people with disabilities and their families. MiABLE accounts help people with disabilities save for current and future expenses without jeopardizing government assistance like Medicaid and Supplemental Security Income.

Read more on Treasury's Medium page. [ [link removed] ]



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