MI SB1006

Appropriates $12,078,985,100 from the state school aid fund and $83,075,000 from the general fund for public schools for fiscal year ending September 30, 2016.

Requires general fund money to be expended before state school aid fund money for education purposes.

Allocates up to $1,175,000 in general fund money to a dissolved school district that retains separate identity for debt purposes and levies 13 mills for debt satisfaction, to be used only to pay off remaining bonded debt.

Allocates up to $36,000,000 in general fund money to the same dissolved school district to pay off remaining amount owed to the school bond loan revolving fund created under the shared credit rating act.