MI SB0715

Increases general fund appropriation for fiscal year 2024 from $87,900,000 to $187,900,000 for education purposes under the State School Aid Act of 1979.

Allocates $100,000,000 from the general fund for 2023-2024 only to provide $10,000 bonus payments to eligible teachers.

Requires teachers to have received a "highly effective" evaluation rating (before July 1, 2024) or "effective" rating (on or after July 1, 2024) to qualify for bonuses.

Requires teachers to work in districts or intermediate districts with either at least 62% economically disadvantaged pupils or a teacher vacancy rate greater than 0.1 to be eligible for bonuses.

Directs the Department to disburse bonuses to all qualifying teachers and prorate payments if appropriated funds prove insufficient.