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MI HB5708
Bill
Status
5/31/2016
Primary Sponsor
Julie Plawecki
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AI Summary
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Amends the State School Aid Act of 1979 to appropriate $12,078,985,100.00 from the state school aid fund and $83,075,000.00 from the general fund for fiscal year ending September 30, 2016.
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Allocates up to $1,175,000.00 in general fund money to dissolved school districts retaining limited identity for debt purposes to pay off remaining bonded debt.
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Allocates up to $36,000,000.00 in general fund money to dissolved school districts to pay off amounts owed to the school bond loan revolving fund under the shared credit rating act.
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Requires general fund appropriations to be expended before state school aid fund appropriations for education purposes.
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Transfers any unexpended general fund allocations by fiscal year end to the school aid stabilization fund.
Legislative Description
School aid; supplemental; allocation to certain school districts to pay down debt; provide for. Amends sec. 11 of 1979 PA 94 (MCL 388.1611) & adds sec. 22m.
State financing and management: bonds
Last Action
Bill Electronically Reproduced 05/31/2016
6/1/2016