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MI SB1010
Bill
Status
6/25/2020
Primary Sponsor
Peter MacGregor
Click for details
AI Summary
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Adds authority to the State Finance Authority to establish a short-term state financing program making interest-free loans to counties for distribution to eligible taxing authorities.
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Enables deferral of certain summer 2020 property taxes for eligible taxing authorities under the general property tax act.
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Loan terms and repayment provisions for the short-term financing program are to be determined by the state treasurer.
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Defines "eligible taxing authority" and "summer 2020 property taxes" by reference to section 44f of the general property tax act, 1893 PA 206.
Legislative Description
State financing and management; other; payment to counties for property tax payment; allow the Michigan finance authority to finance. Amends sec. 7 of 1985 PA 227 (MCL 141.1057) & adds sec. 16e.
State financing and management: other
Last Action
Referred To Committee On Appropriations
6/25/2020