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MI HB5570
Bill
Status
8/15/2012
Primary Sponsor
Bill Rogers
Click for details
AI Summary
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Amends 1985 PA 227 to redefine the Michigan municipal bond authority as the Michigan finance authority created by Executive Reorganization Order No. 2010-2.
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Expands the authority's powers to purchase and accept assignment of emergency loan board loans and school district loan repayment obligations from the state.
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Authorizes the authority to provide assistance for water pollution control and drinking water revolving fund projects under federal law, including managing investments on behalf of governmental units.
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Permits the authority to enter into agreements with the federal government and state treasurer for implementing and operating water revolving funds and school loan revolving funds.
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Takes effect only upon enactment of HB 5566, HB 5567, HB 5568, and HB 5569 of the 96th Legislature.
Legislative Description
State financing and management; bonds; municipal bond authority; allow to create an emergency loan board loan. Amends secs. 3, 7, 8 & 13 of 1985 PA 227 (MCL 141.1053 et seq.). TIE BAR WITH: HB 5566'12, HB 5567'12, HB 5568'12, HB 5569'12
Education, school districts
Last Action
Assigned Pa 288'12 With Immediate Effect
8/15/2012