Research About Meet PRIA

Support Data Sources Privacy Policy Terms of Servicehello@policyrisk.com

© 2026 PRIA Technologies, LLC. All rights reserved.

PRIA provides educational policy intelligence and is not a source of investment, legal, or financial advice. Content is for informational purposes only.

™

Your Policy Risk Impact Agent

Research

At My Address
Federal Courts
Daily Briefings
Medicare & Social Security
Policy Risk Index
Congressional Bills
Federal Register
Tariffs
Fed Decisions & The Economy
State Tracker
World Watch
U.S. Code
U.S. Constitution
Aliens

Knowledge

Search Polipedia
Daily Briefings
Calculators
Policy Risk Index
What is Policy Risk?
The Countdown

Company

About PRIA
Support

Get PRIA

Support Data Sources Privacy Policy Terms of Service

hello@policyrisk.com

© 2026 PRIA Technologies, LLC. All rights reserved.

PRIA is a trademark of PRIA Technologies, LLC.

PRIA provides educational policy intelligence and is not a source of investment, legal, or financial advice. Content is for informational purposes only.

Michigan Statutes, Title 390

™

Your Policy Risk Impact Agent

Michigan/Statutes

← All Michigan coverage

Title 390, UNIVERSITIES AND COLLEGES

110 chapters · 499 sections in this title.

All chapters in Title 390499 Ch 316-of-1986, MICHIGAN EDUCATION TRUST ACT22 Ch 269-of-1909, MICHIGAN STATE UNIVERSITY20 Ch 151-of-1851, UNIVERSITY OF MICHIGAN19 Ch 161-of-2000, MICHIGAN EDUCATION SAVINGS PROGRAM ACT16 Ch 222-of-1975, HIGHER EDUCATION LOAN AUTHORITY ACT16 Ch 295-of-1969, HIGHER EDUCATION FACILITIES AUTHORIT…16 Ch 77-of-1960, MICHIGAN HIGHER EDUCATION ASSISTANCE…12 Ch 208-of-1964, STATE COMPETITIVE SCHOLARSHIPS12 Ch 48-of-1963 (2nd Ex. Sess.), CENTRAL, EASTERN, NORTHERN, AND WEST…12 Ch 549-of-2008, MICHIGAN PROMISE ZONE AUTHORITY ACT12 Ch Territorial Laws-of-1833, Vol. III, KALAMAZOO COLLEGE11 Ch 70-of-1885, MICHIGAN TECHNOLOGICAL UNIVERSITY11 Ch 72-of-1857, ALBION COLLEGE11 Ch 315-of-1977, INDEMNIFICATION RESERVE FUND11

16 sections·Filtered byTitle 390✕Ch 161-of-2000✕

Mich. Comp. Laws § 390.1471 Short title.
0.1K chars
Sec. 1. This act shall be known and may be cited as the "Michigan education savings program act".
Mich. Comp. Laws § 390.1472 Definitions.
4.3K chars
Sec. 2. As used in this act: (a) "Account" or "education savings account" means an account established under this act. (b) "Account owner" means any of the following: (i) The individual who enters into a Michigan education savings program agreement and establishes an education sa…
Mich. Comp. Laws § 390.1473 Michigan education savings program; establishment; soliciting proposals; duties and powers vested in treasurer; administration of program; funds trustee; personnel and services; selection of program manager; contract.
5.2K chars
Sec. 3. (1) The Michigan education savings program is established in the department of treasury. The program may consist of 1 or more savings plans. (2) The treasurer shall solicit proposals from entities to be a program manager to provide the services described in subsection (5)…
Mich. Comp. Laws § 390.1474 Management contract; supervision by treasurer.
0.1K chars
Sec. 4. The treasurer shall be responsible for the ongoing supervision of each management contract in consultation with the board.

Mich. Comp. Laws § 390.1475 Management contract; term; termination.

0.2K chars

Sec. 5. (1) A management contract shall be for a term of years specified in the management contract. (2) The treasurer may terminate a management contract based on the criteria specified in the management contract.

Mich. Comp. Laws § 390.1476 Contracts.

0.1K chars

Sec. 6. The treasurer may enter into contracts that it considers necessary and proper for the implementation of this program.

Mich. Comp. Laws § 390.1477 Education savings accounts; establishment; purpose; agreement; form of contribution; withdrawal; distributions; penalty; separate accounting for each beneficiary.

4.0K chars

Sec. 7. (1) Beginning October 1, 2000, education savings accounts may be established under this act. (2) Any individual or entity described in section 2(b)(ii) may open 1 or more education savings accounts to save money to pay the qualified higher education expenses of 1 or more …

Mich. Comp. Laws § 390.1478 Account owner or beneficiary; changes; transfer.

1.2K chars

Sec. 8. (1) An account owner may designate another individual as a successor owner of the account in the event of the death of the account owner. (2) An account owner may change the designated beneficiary of an account to a member of the family of the previously designated benefi…

Mich. Comp. Laws § 390.1479 Account owner or beneficiary; direction of contributions or earnings; selection of investment strategy; contributions by board members or employees; use of interest; restriction.

0.8K chars

Sec. 9. (1) Except as otherwise provided in this section, an account owner or a designated beneficiary of any account shall not direct the investment of any contributions to an account or the earnings on an account. (2) An account owner may select among different investment strat…

Mich. Comp. Laws § 390.1480 Maximum account balance limit; limitation; rejection of contribution to designated beneficiary account; total balance of all accounts.

1.1K chars

Sec. 10. (1) The maximum account balance limit for all of the accounts that name any 1 individual as the designated beneficiary shall not exceed a maximum of $500,000.00. (2) The program shall reject a contribution to any account for a designated beneficiary if, at the time of th…

Mich. Comp. Laws § 390.1481 Account distributions; report to internal revenue service and account owner; statements.

0.7K chars

Sec. 11. (1) Each program manager shall report distributions from an account to any individual or for the benefit of any individual during a tax year to the internal revenue service and the account owner or, to the extent required by federal law or regulation, to the distributee.…

Mich. Comp. Laws § 390.1482 Disclosure of information.

1.3K chars

Sec. 12. Each program manager shall disclose the following information in writing to each account owner of an education savings account and any other person who requests information about an education savings account: (a) The terms and conditions for establishing an education sav…

Mich. Comp. Laws § 390.1483 Construction or interpretation of act and agreement.

0.8K chars

Sec. 13. This act and any agreement under this act shall not be construed or interpreted to do any of the following: (a) Give any designated beneficiary any rights or legal interest with respect to an account unless the designated beneficiary is the account owner. (b) Guarantee t…

Mich. Comp. Laws § 390.1484 Obligation upon state, agency, or instrumentality of state.

0.7K chars

Sec. 14. (1) This act does not create and shall not be construed to create any obligation upon this state or any agency or instrumentality of this state to guarantee for the benefit of an account owner or designated beneficiary any of the following: (a) The rate of interest or ot…

Mich. Comp. Laws § 390.1485 Annual report.

0.7K chars

Sec. 15. Each program manager shall file an annual report with the treasurer and the board that includes all of the following: (a) The names and identification numbers of account owners, designated beneficiaries, and distributees of family tuition accounts. The information report…

Mich. Comp. Laws § 390.1486 Contributions and interest earned as tax exempt; withdrawals as taxable.

0.3K chars

Sec. 16. (1) Contributions to and interest earned on an education savings account are exempt from taxation as provided in section 30 of the income tax act of 1967, 1967 PA 281, MCL 206.30. (2) Withdrawals made from education savings accounts are taxable as provided in section 30 …