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MI HB4119
Bill
Status
1/29/2013
Primary Sponsor
Michael Shirkey
Click for details
AI Summary
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Amends the Management and Budget Act (1984 PA 431) by adding section 388a to require timely payments from the state to local governmental units.
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State must pay interest on any required payment to a local governmental unit that is not made by the due date.
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Interest begins accruing 30 days after the payment was required to be made and continues until the payment is made.
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Interest rate is calculated using the same rate established under section 23(2) of 1941 PA 122 (MCL 205.23).
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Exceptions apply only as otherwise provided in the Management and Budget Act or other state law.
Legislative Description
State financing and management; other; timely payments to local governments; require. Amends 1984 PA 431 (MCL 18.1101 - 18.1594) by adding sec. 388a.
Local government, financing
Last Action
Printed Bill Filed 01/30/2013
1/30/2013