LANSING, Mich. — Sen. Wayne Schmidt (standing, left) on Tuesday attended the governor’s ceremonial bill signing of Schmidt’s legislation to allow certain personal property to be transferred to community foundations.
Senate Bill 102 creates the Michigan Community Foundation Act, which will allow the transfer of intangible personal property from a municipality, public library and/or school board to a community foundation.
“This law will save money for local organizations,” said Schmidt, R-Traverse City. “Having these donations managed by the local community foundation can lead to reduced administrative expenses for the local entity making the donation. And this can lead to more funds being available for charitable purposes for that agency.”
SB 102 is now Public Act 38 of 2017.
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