MI HB6296

Creates an Education Financial Emergency Resolution Board within the Department of Education to oversee emergency financial managers appointed to school districts in financial crisis.

Establishes that the board consists of the superintendent of public instruction (chair), state treasurer, and director of technology, management and budget, with the attorney general serving as nonvoting legal counsel and the affected school board president as a nonvoting member.

Requires emergency financial managers to be chosen based on public sector fiscal competence, demonstrate previous public sector experience, and not have been employed by the affected school district for at least 5 years prior to appointment.

Grants the board authority to directly supervise emergency financial managers, review and approve all compensation, appointments, contracts, and decisions made by the manager, and oversee all day-to-day operations.

Limits emergency financial manager appointments to one-year terms with annual renewal options, with the board fixing the term length and requiring written contracts that include specific remedies for non-compliance with statutory requirements.