Public Act 50 of 2009

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• Introduced by Sen. Michael Switalski (D) on March 31, 2009, to revise the designation of which state government bond rates will establish the index on which interest rates are based for money lent by the state to schools for construction projects. Reportedly the current benchmark rate is too low, so school districts are depleting the fund.
  • Referred to the Senate Appropriations Committee on March 31, 2009.
    • Reported in the Senate on May 12, 2009, with the recommendation that the bill pass.
• Passed 37 to 0 in the Senate on May 14, 2009.
  Who Voted "Yes" and Who Voted "No"
• Received in the House on May 14, 2009.
  • Referred to the House Appropriations Committee on May 14, 2009.
    • Reported in the House on June 4, 2009, without amendment and with the recommendation that the bill pass.
• Passed 105 to 2 in the House on June 4, 2009, to revise the designation of which state government bond rates will establish the index on which interest rates are based for money lent by the state to schools for construction projects. Reportedly the current benchmark rate is too low, so school districts are depleting the fund.
  Who Voted "Yes" and Who Voted "No"
• Signed by Gov. Jennifer Granholm on June 18, 2009.