Michigan legislation · 103rd Legislature
Michigan HB6207: Businesses: charitable organizations; rebuttable presumption of imprudence for certain expenditures from an endowment fund; provide for. Amends sec. 4 of 2009 PA 87 (MCL 451.924).
Status: In committee, July 3, 2026
What the bill says
To amend 2009 PA 87, entitled "Uniform prudent management of institutional funds act," by amending section 4 (MCL 451.924).
From the introduced text, July 3, 2026:
A bill to amend 2009 PA 87, entitled "Uniform prudent management of institutional funds act," by amending section 4 (MCL 451.924). the people of the state of michigan enact: Sec. 4. (1) Subject to the intent of a donor expressed in the gift instrument and to subsection (4), an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes, and duration for which the endowment fund is established. Unless stated otherwise in the gift instrument, the assets in an endowment fund are donor-restricted assets until appropriated for expenditure by the institution. In making a determination to appropriate or accumulate, the institution shall act in good faith, with the care that an ordinarily prudent person in a like position would exercise under similar circumstances, and shall consider, if relevant, all of the following factors: (a) The duration and preservation of the endowment fund. (b) The purposes of the institution and the endowment fund. (c) General economic conditions. (d) The possible effect of inflation or deflation. (e) The expected total return from income and the appreciation of investments. (f) Other resources of the institution. (g) The investment policy of the institution. (2) To limit the authority to appropriate for expenditure or accumulate under subsection (1), a gift instrument …
Sponsors
- Jenkins-Arno, Nancy (R, 34) · primary sponsor
- Beson, Timothy (R, 96)
- Frisbie, Steve (R, 44)
- Neyer, Jerry (R, 92)
Latest actions
- : bill electronically reproduced 07/03/2026
- : referred to Committee on Finance
- : read a first time
- : introduced by Representative Rep. Nancy Jenkins-Arno
Subjects: Businesses: charitable organizations, Businesses: nonprofit corporations
Common questions
- What is HB6207?
- HB6207 is a bill in the Michigan Legislature (103rd Legislature): Businesses: charitable organizations; rebuttable presumption of imprudence for certain expenditures from an endowment fund; provide for. Amends sec. 4 of 2009 PA 87 (MCL 451.924).
- What does HB6207 do?
- In its own words: To amend 2009 PA 87, entitled "Uniform prudent management of institutional funds act," by amending section 4 (MCL 451.924).
- What is the status of HB6207?
- In committee as of July 3, 2026. Latest action: bill electronically reproduced 07/03/2026 (July 3, 2026).
- Who sponsored HB6207?
- Jenkins-Arno, Nancy (R, 34), with 3 co-sponsors.
- Where is the official record for HB6207?
- On the Michigan Legislature website: https://www.legislature.mi.gov/Bills/Bill?ObjectName=2026-HB-6207
Source: official Michigan record. Tracked by Delilah, AI for legislation across all 50 states and Congress.