MI HB5576

Amends Michigan's compulsory arbitration law for municipal police and fire department labor disputes to specify factors arbitration panels must consider when determining wages and employment conditions.

Establishes that arbitration panels must give "the most significance" to the financial ability of the unit of government to pay, provided the determination is supported by competent, material, and substantial evidence.

Requires panels to consider the financial impact on the community, public interests and welfare, all liabilities, and any state laws or directives under the Local Financial Stability and Choice Act that limit government expenditures or revenue collection.

Adds requirement that arbitration panels may consider written financial position documents submitted by a financial review commission under the Michigan Financial Review Commission Act.

Effective immediately upon approval by the Governor on June 19, 2014.