Michigan Votes

2007 House Bill 4851 (Use borrowed college grant money to pay for current spending )

Public Act 34 of 2007

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  • Introduced by Rep. Andy Meisner on May 24, 2007, to give the Michigan higher education student loan authority the authority to transfer money to the Michigan merit award trust fund, which was created to hold revenue from the 1998 tobacco company lawsuit settlement. Unlike money controlled by the authority directly, there is no restriction on the legislature using money in the merit award fund (which is a “trust” fund in name only) for any other purpose. The bill is part of an agreement to avoid spending cuts in the current fiscal year budget by borrowing up to $500 million, plus another $100 million from the student loan authority, which is itself borrowed money.
    • Referred to the House Appropriations Committee on May 24, 2007.
      • Reported in the House on May 30, 2007, with the recommendation that the substitute (H-2) be adopted and that the bill then pass.
    • Substitute offered in the House on May 30, 2007, to replace the previous version of the bill with one that only authorizes transferring money from the authority to the merit award fund in Fiscal Year 2007. The substitute passed in the House by voice vote on May 30, 2007.
  • Passed in the House (101 to 5) on May 30, 2007, to give the Michigan higher education student loan authority the authority to transfer money to the Michigan merit award trust fund. Unlike money controlled by the authority directly, there is no restriction on the legislature using money in the merit award fund (which is a “trust” fund in name only) for any other purpose. The bill is part of an agreement to avoid spending cuts in the current fiscal year budget by borrowing up to $410 million, plus another $80 to $90 million from the student loan authority, which is itself borrowed money. [Vote Details and Comments]
  • Received in the Senate on May 31, 2007.
    • Referred to the Senate Appropriations Committee on May 31, 2007.
      • Reported in the Senate on June 19, 2007, with the recommendation that the substitute (S-1) be adopted and that the bill then pass.
    • Substitute offered in the Senate on June 20, 2007, to replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described. The substitute passed in the Senate by voice vote on June 20, 2007.
  • Passed in the Senate (36 to 0) on June 21, 2007, to give the Michigan higher education student loan authority the authority to transfer money to the Michigan merit award trust fund. Unlike money controlled by the authority directly, there is no restriction on the legislature using money in the merit award fund (which is a “trust” fund in name only) for any other purpose. The bill is part of an agreement to avoid spending cuts in the current fiscal year budget by borrowing up to $410 million, plus another $80 to $90 million from the student loan authority, which is itself borrowed money. [Vote Details and Comments]
  • Received in the House on June 21, 2007.
  • Passed in the House (97 to 9) on June 26, 2007. [Vote Details and Comments]
  • Signed by Gov. Jennifer Granholm on July 10, 2007.

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Comments

Introduced by Rep. Andy Meisner on May 24, 2007. Passed in the House (101 to 5) on May 30, 2007. New Comment

1) Term Limits [by Anonymous Citizen on June 20, 2007]
We have always had term limits. It is called voting. Unfortunately we Americans are too busy, or to lazy, or too stupid to exercise this unique ability.

Ted Kennedy is still in office because of ignorant voters, not lack of term limits!
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2) voter ignorance? [by Anonymous Citizen on June 21, 2007]
how about voter apathy? the voters who vote for teddy kennedy do so because they are in cushy positions, with lifelong entitlements, and to pay him back, they keep him in congress.

it's simply a matter of HIS votes bought with OUR money.


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3) They won't be here [by Anonymous Citizen on June 4, 2007]
Remember term limits? These clowns won't be in office when the bill comes due. Another group of rookies will have to fix that mess. All of our legislators are short-timers. They aren't looking for long-term, substantive solutions, just quick, short-term fixes. Term limits guarantee that decision-makers won't be around to deal with the consequences of their actions. It is institutionalized, permanent childhood.
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4) it's also the only way [by Anonymous Citizen on June 4, 2007]
to ensure that one politician (like ted kennedy) doesn't stick around for a hundred years and keep any changes from happening.

power corrupts, and the longer the exposure to power, the greater the corruption.
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5) Bull [by Anonymous Citizen on June 4, 2007]
These people aren't 1st graders. They are grown adults that just left the common sense gene at home when they got elected. The big problem is that they have way too much free time on their hands. They only work about a hundred days a year and call it "full time". If they only had 50 days think how much less they could damage the state. Another problem is that the government schools and all the libs/dems/socialists have the sheeple believing that the imperial state government will be their nanny's throughout their lives. Build roads and lock up prisoners, other than that get the politicians out of the way and watch michganistan grow.
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6) They don't care that [by Anonymous Citizen on June 2, 2007]
Michigan is dying a slow death, jobs are far and few between and people are leaving. When there is no one left to pay the taxes or play the lottery IT'LL BE FINE they can just continue to BORROW..shoot they are so talented they have figure a way to borrow from the borrowed. I really hate to say it but many are not willing to stick around to see it get PAID BACK!
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7) rezo [by Anonymous Citizen on July 14, 2007]
send me money my bank account:


"Intermediary bank: SWIFT:BKTRUS33
Deutsche Bank Trust Company
Americas
New York, USA
Bene Bank SWIFT:AGREGE22
JSC Standard Bank, Tbilisi
bene Acc No:91056461
For:Revaz Basilashvili"


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8) Rep. Meekhof's "no vote explanation" [by Admin003 on May 31, 2007]
Rep. Meekhof, having reserved the right to explain his protest against the passage of the bill, made the following statement:

"Mr. Speaker and members of the House:

We have not addressed the real reform issues that are facing the State of Michigan. I can not vote for one time gimmicks and accounting changes, to balance the 07 budget, when we have not fixed the real problems facing Michigan."

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9) I don't understand [by Anonymous Citizen on May 29, 2007]
So...... we are now borrowing money from borrowed money to get out of debt?!
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10) Borrow? [by Anonymous Citizen on May 26, 2007]
Just like HB 4850 this translates to an inability to deal with reality. This type of uncontrolled spending is why the state is in trouble, but apparently to many in Lansing cannot see this!
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11) This is unreal [by plumberboy on June 1, 2007]
They are spending money worse than a drunken sailor,it's like a druken sailor with endless credit. I can't belive these idiots someone eventually will pay like all credit it will have to be payed back.The thing is they need to make cuts in this big pig called Governmnet.I don't care if state troppers are layed off or non violent crimnals get a early release.The thing is that budget is balanced and taxes are cut or remain the same no more increases to satisfy their lust to waste money.I really think if they looked hard they would find millions of dolllars in wasted money. They are to lazy though I say oust them all get rid of them they are all fat cat bums who just want more and more no matter the cost.
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Received in the House on June 21, 2007. Passed in the House (97 to 9) on June 26, 2007. New Comment

1) Granholm: Don't ever again say you believe in Education [by Anonymous Citizen on September 27, 2007]
Espinoza, Thanks you one time rep. This is why I didn't vote for you. You lied to your constiuents about education. I'm one of many parents whom has continued to raise/donate money for the math/science center in Sanilac County.

My feeling has always been to let the government shut down. How can you look us in the face after this vote?
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2) They Are Afraid [by Anonymous Citizen on September 27, 2007]
that nobody will notice when the government shuts down.
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