MI SB0964

Appropriates funds for Michigan public schools and education-related state purposes for fiscal year ending September 30, 2010, with specific dollar amounts to be determined by the legislature (striking previous amounts of $10,793,954,100 from state school aid fund and $31,800,000 from general fund).

Appropriates $450,000,000 in federal funding from Title XIV of the American Recovery and Reinvestment Act of 2009 to be used solely for the primary funding formula calculated under section 20, in accordance with federal law.

Establishes proration procedures requiring the Department of Treasury to notify the state budget director and legislature at least 30 calendar days or 6 legislative session days before reducing any school aid payments due to insufficient funds, allowing the legislature opportunity to appropriate additional funds to prevent proration.

Requires the Department of Education to prepare electronic files for state school aid distributions on a monthly basis (by October 20 through August 20) with the state treasurer making payments in 11 equal installments to districts and intermediate districts.

Allows the superintendent, with written concurrence of the state treasurer and state budget director, to authorize advance release of funds for districts or intermediate districts demonstrating temporary and nonrecurring financial needs, not to exceed 30 days before the established payment date.