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MI HB5848
Bill
Status
2/24/2022
Primary Sponsor
Mary Cavanagh
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AI Summary
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Requires authorizing bodies of public school academies to notify all other academies they oversee that also use the same educational management organization (EMO) when one academy receives a fiscal stress notification from the state treasurer.
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Changes mandatory language from "shall" to "must" throughout sections 1219 and 1220 regarding budgetary submissions, financial reviews, and deficit elimination procedures.
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Adds definitions for "educational management organization" and "management agreement" to the school finance oversight statutes.
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Expands notification requirements so that if a public school academy enters into a deficit elimination plan, its authorizing body must inform other academies under that body's jurisdiction that also have management agreements with the same EMO.
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Takes effect 90 days after enactment.
Legislative Description
Education: public school academies; notification to public school academy if they are currently being operated by an educational maintenance organization that is experiencing financial distress; require. Amends secs. 1219 & 1220 of 1976 PA 451 (MCL 380.1219 & 380.1220).
State agencies (existing): education
Last Action
Bill Electronically Reproduced 02/24/2022
3/1/2022