MI HB5100

Amends the School Bond Qualification, Approval, and Loan Act to modify section 5 (MCL 388.1925) regarding school bond applications.

Adds a new requirement (subsection m) that school districts must certify all currently serving board members, superintendents, and chief financial officials have completed a financial training program about qualified bonds approved by the Department of Treasury.

Maintains existing application requirements for school bond qualification including ballot language, project descriptions, debt service projections, facility utilization rates, cost analyses, and architect assessments.

Requires school districts to maintain detailed books and records on bond proceeds investment and expenditure, with 5 business days to respond to state treasurer information requests.

Establishes constraints on bond maturity to not exceed 120% of the average useful life of financed facilities and requires evidence that all outstanding and proposed bonds can be repaid by the applicable final mandatory repayment date.