Michigan would offer Corvette anniversary plates through January 2029

The secretary of state would develop and issue a fundraising or collector plate honoring the Chevrolet Corvette's 75th anniversary. The plate would be available to people seeking a Michigan fundraising or collector plate for this anniversary. General Motors would submit the plate's logo design to the secretary of state. The secretary of state would act under the vehicle code's existing plate-development and issuance sections. The secretary of state could sell the plate only through January 31, 2029, if the proposal takes effect.

Money from sales of the Corvette anniversary plates would go into a state treasury fund, then be paid quarterly to General Motors for distribution to eligible nonprofits. The money would come from sales of the plates honoring the Corvette's 75th anniversary, and recipient organizations would need federal tax-exempt status under section 501(c)(3). The state treasurer could accept money or other assets for the fund and would invest the fund's money. The fund's investment earnings would stay in the fund, and unused money would not return to the general fund at the end of a fiscal year. The state treasurer would administer the fund for auditing purposes. Money paid to General Motors would have to be distributed to eligible tax-exempt nonprofit organizations. The amendatory act would take effect 90 days after enactment, and quarterly fund payments would occur after money is transferred into the fund.