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MI HB4424
Bill
Status
4/13/2023
Primary Sponsor
Dylan Wegela
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AI Summary
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Increases the state school aid fund appropriation for fiscal year 2023 from $16,754,072,900 to $16,767,072,900 (a $13 million increase)
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Allocates up to $13,000,000 from the state school aid fund to a qualifying intermediate district to pay accrued school bond loan fund interest for a dissolved school district
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Requires the Department of Treasury to determine which intermediate district is eligible based on the dissolved district's ability to repay the accrued interest balance
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Allows the Department of Treasury to establish its own payment schedule to the qualifying intermediate district, notwithstanding standard payment provisions
Legislative Description
School aid: supplemental; funding for the elimination of debt for certain districts; provide for. Amends sec. 11 of 1979 PA 94 (MCL 388.1611) & adds sec. 22e.
School aid: supplemental
Last Action
Bill Electronically Reproduced 04/13/2023
4/19/2023