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MI SB0475

Bill

Official Source

Status

Passed

9/22/2020

Primary Sponsor

Wayne Schmidt

Click for details

Origin

Senate

100th Legislature

AI Summary

  • Amends MCL 18.1367b to update terminology in the revenue estimating conference process from "basic foundation allowance" to "target foundation allowance" in accordance with 2019-2020 fiscal year changes to the State School Aid Act.

  • Requires the January and May 2020 revenue estimating conferences to account for the terminology change when establishing the annual percentage growth forecast for foundation allowances.

  • The revenue estimating conference principals (state budget director or treasurer, senate fiscal agency director, and house fiscal agency director) must include the target foundation allowance growth forecast in their official economic and revenue forecasts.

  • Takes effect October 1, 2019, with immediate effect upon approval by the Governor on September 17, 2020.

Legislative Description

School aid: foundation allowance; reference to basic foundation allowance in revenue estimating conference; change to target foundation allowance. Amends sec. 367b of 1984 PA 431 (MCL 18.1367b).

State financing and management: budget

Last Action

Assigned Pa 0157'20 With Immediate Effect

9/22/2020

Committee Referrals

Appropriations8/29/2019

Full Bill Text

No bill text available