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MI HB5089
Bill
Status
12/1/2015
Primary Sponsor
Frank Liberati
Click for details
AI Summary
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Amends the Local Financial Stability and Choice Act (2012 PA 436) to modify requirements for emergency managers in financially distressed local governments.
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Requires the emergency manager to adopt and implement a 2-year budget for the local government before terminating receivership, including all contractual and employment agreements.
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Removes the restriction that prevented the governing body from revising orders or ordinances implemented by the emergency manager for 1 year after receivership termination.
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Requires state treasurer approval for any amendments to the 2-year budget adopted by the emergency manager after receivership ends.
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Takes effect 90 days after enactment.
Legislative Description
Local government; financing; prohibition in the local financial stability and choice act on revising any ordinance or order of an emergency manager for 1 year after the termination of receivership; remove. Amends sec. 21 of 2012 PA 436 (MCL 141.1561).
Local government: financing
Last Action
Printed Bill Filed 12/02/2015
12/2/2015