MI HB4388

Expands permissible uses of school district sinking fund taxes to include school security improvements and technology acquisition/upgrading, in addition to real estate purchase and school building construction or repair.

Reduces maximum sinking fund tax rate from 5 mills to 3 mills for taxes authorized on or after the effective date of this amendment.

Limits sinking fund tax levy period to 10 years for taxes authorized on or after the effective date, down from the previous 20-year maximum.

Defines "school security improvement" to include physical deterrents such as metal detectors, locks, doors, lighting, cameras, entryway enhancements, and emergency communication mobile applications, but excludes personnel and operation costs.

Requires annual independent audits of sinking funds submitted to the Department of Treasury, with penalties including repayment of misused funds and prohibition on future sinking fund taxes if misuse is found.