MI SB0114

Requires emergency financial managers for local governments to file semi-annual reports (every 6 months beginning 6 months after appointment) with the governor, senate majority leader, and speaker of the house, and post reports on the local government's website.

Reports must include expenditures of $10,000 or more with fund sources, contracts valued at $10,000 or more with contractor identity and purpose, and loans of $10,000 or more with proposed use of funds.

Reports must describe new positions created, permanent position vacancies filled, positions eliminated, and employee layoffs, along with the current written financial plan in effect.

Requires emergency financial managers for school districts to file identical semi-annual reports to state officials and post on the school district's website, with reporting dates set by the education financial emergency resolution board.

Bill takes effect only if Senate Bill No. 112 of the 96th Legislature is enacted into law.