MI HB5051

Governor may appoint a receivership transition advisory board to monitor local government affairs before removing the government from receivership.

Board membership includes the state treasurer, director of the department of technology, management, and budget, and superintendent of public instruction (if the local government is a school district), plus additional members with relevant professional experience including local residents.

Former emergency managers or emergency financial managers may only serve as nonvoting members on the advisory board for the local government where they previously served.

Board powers include requiring annual revenue estimating conferences, reviewing monthly cash flow projections, approving proposed budgets and collective bargaining agreements, and reviewing debt issuance requests.

Board meetings are subject to the open meetings act and freedom of information act, with rules of procedure adopted at the first meeting and not subject to the administrative procedures act.