MI HB6063

Amends Section 517 of the Revised Municipal Finance Act to change the notice requirement for municipal securities from publishing in newspapers to providing "tier A public notice" under the Local Government Public Notice Act, effective January 1, 2015.

Through December 31, 2014, counties, cities, villages, and townships must continue publishing notice of intent to issue municipal securities in newspapers with general circulation, with the notice being at least 1/4 page in size.

Allows electors to petition for a referendum on municipal securities if a petition signed by at least 10% or 15,000 registered electors (whichever is less) is filed within 45 days of notice, requiring voter approval before issuance.

Maintains existing limitations on municipal securities, including that they cannot exceed 5% of the state equalized valuation of property in the municipality and must comply with tax levy limits.

Takes effect only if House Bill No. 5560 of the 97th Legislature is enacted into law.