MI HB6255

Changes the effective date reference in Section 12b from "the effective date of the amendatory act" to the specific date of June 21, 2016, for when qualifying school districts lose their organization and are dissolved.

Expands the definition of "operating obligation" to include loans incurred from the school loan revolving fund under the shared credit rating act and school bond qualification, approval, and loan act.

Adds a new provision prohibiting qualifying school districts from levying a mill for school operating purposes after the state treasurer certifies that all outstanding operating obligations have been repaid.

Adds definitions for "school operating purposes" and clarifies the term "transfer date" in the statute's definitions section.

Makes technical corrections including replacing "shall" with "must," "upon" with "on," and pronoun references with gender-neutral language throughout the statute.