Snyder signs bill updating college savings plan
Lansing — Legislation signed by Gov. Rick Snyder aims to offer those enrolled in the Michigan Education Savings Plan more flexibility in updating their college savings contributions.
The bill signed Tuesday by Snyder updates the number of account rebalances that can be made to a college savings account from one to two a year. Snyder’s office says the change increases investment opportunities and makes planning for deposits easier.
The bill was sponsored by Republican Rep. Anthony Forlini of Macomb County’s Harrison Township.
Snyder also signed a bill sponsored by Republican Rep. Holly Hughes of Montague clarifying that a person may not gain ownership of property owned by a local government by occupying it for a period of 15 years or more, a legal doctrine known as adverse possession.