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MI HB5761
Bill
Status
2/17/2022
Primary Sponsor
Mark Tisdel
Click for details
AI Summary
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Prohibits local units of government from issuing bonds or notes to finance property assessed clean energy (PACE) programs after the effective date of this amendatory act.
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Replaces archaic language ("shall") with modern statutory language ("must") throughout the section regarding bond issuance procedures and securing mechanisms.
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Corrects grammatical references from "such purposes" to "that purpose" in subsections describing tax increment revenues and other available funds for bond securing.
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Takes effect only if House Bill No. 5011 and House Bill No. 5012 are both enacted into law during the 101st Legislature.
Legislative Description
Local government: bonds; issuance of bonds or notes to finance property assessed clean energy program; modify. Amends sec. 15 of 2010 PA 270 (MCL 460.945).
Local government: financing
Last Action
Referred To Second Reading
3/2/2022