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MI SB0729
Bill
AI Summary
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Excludes $421,300,000 of advance refunding from the 2025 revenue and refunding bonds, series I, issued by the state building authority in June 2025 from counting against the authority's debt limit
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Maintains the existing $2,700,000,000 cap on total outstanding obligations the state building authority may have at any one time
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Creates a specific carve-out so that this particular advance refunding transaction does not reduce the authority's available bonding capacity for future projects
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Modifies the rules for when refunding obligations count against the debt limit, adding an exception for this specific 2025 bond series
Legislative Description
State finance: authorities; outstanding obligations of the state building authority; provide exception to the limit of. Amends sec. 8 of 1964 PA 183 (MCL 830.418).
State finance: authorities
Last Action
Referred To Committee On Appropriations
12/10/2025