SB 0008 Summary

• Appropriates $14,511,014,700 from the state school aid fund for fiscal year 2021-2022 and $16,754,072,900 for fiscal year 2022-2023 for public schools and education-related purposes in Michigan.

• Allocates $5,094,000,000 for 2021-2022 and $5,686,000,000 for 2022-2023 for discretionary nonmandated payments to districts, including $72,000,000 annually from the community district education trust fund.

• Appropriates $1,134,196,100 for 2021-2022 and $1,460,503,100 for 2022-2023 for special education programs, services, and reimbursements to districts and intermediate districts.

• Allocates $1,478,000,000 from the state school aid fund and $140,400,000 from the MPSERS retirement obligation reform reserve fund for 2022-2023 to cover Michigan Public School Employees' Retirement System contributions for participating entities.

• Allocates $1,000,000,000 additional funds for 2022-2023 to participating entities of the Michigan public school employees' retirement system, to be recognized as additional assets to the system.