MI SB0569

Allows municipalities to appropriate surplus general fund revenue to a budget stabilization fund by ordinance or resolution with a 2/3 vote of elected and serving members each fiscal year after fund creation.

Prohibits municipalities from imposing additional taxes beyond what is needed for their estimated budget in order to generate money for the stabilization fund.

Caps the stabilization fund balance at 20% of the municipality's most recent general fund budget as originally adopted, or 20% of the average of the 5 most recent general fund budgets as amended, whichever is less.

Allows fund money to be invested with earnings returned to the general fund.

Requires any excess money exceeding the cap to be appropriated to the general fund budget in the next fiscal year and prohibits it from being added to the stabilization fund.