MI SB0855

Removes fiscal year 2015 appropriations language and maintains only fiscal year 2016 appropriations for public schools and education purposes from the State School Aid Fund and General Fund.

Leaves blank the specific dollar amounts for fiscal year 2016 appropriations from the State School Aid Fund and General Fund, allowing these amounts to be determined separately.

Maintains requirement that General Fund allocations be expended before State School Aid Fund money and that unexpended General Fund amounts transfer to the school aid stabilization fund.

Preserves the existing payment schedule requiring the Department of Education to distribute school aid to districts and intermediate districts in 11 installments on specified dates (October 20 through August 20).

Retains provisions allowing districts and intermediate districts to request electronic funds transfers and permits the Department to authorize advance fund releases up to 30 days early for temporary and nonrecurring needs.